Sinopec purchases interest from Devron for 2.2 billion dollars

Sinopec Group announced it will buy one third of Devron interest in five ventures in the US for 2.2 billion US dollars. The company will gain one-third interest in Mississippian, Niobrara, Utica Ohio, Tuscaloosa and Utica Michigan. The companies aim to generate energy from shale deposits and expect to drill more than 125 gross wells this year.