New Times Energy

New Times Energy buys US oil and gas assets

China's New Times Energy acquires oil and gas operating firm Tiger Energy and more acreage in Utah's Uinta Basin.
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Tiger Energy operates oil and gas leases in Utah
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<div style="text-align: left;"> Tiger Energy operates oil and gas leases in Utah </div>

In a further sign that China’s appetite for overseas energy resources remains vigorous, New Times Energy yesterday announced that it had completed significant oil and gas acquisitions in Utah in the US. So far this year, the value of announced Chinese outbound MA in the sector totals $26.6 billion, including Cnooc’s $15.1 billion takeover of Canada’s Nexen.

New Times Energy said that it had bought an oil and gas operating firm, seven additional well bores and 280 acres located in Utah’s Uinta Basin in the US. The purchases mean that the company will have a total of 39 wells in the basin, where several...

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