The story mentions Frac Tech International, the country's #4 fracker, which changed its name to FTS International and whose IPO we are patiently awaiting.
I don't have much interest in the stock vut the the information in the S-1 should be interesting.
Last year Dan and Ferris Wilks sold their piece of the company to a group headed by Singapore's Temasek Holdings for $3.2 Bil. Chesapeake owns 30%.
A couple months ago Reuters reported "Aramco, Sinopec, CNOOC seek Frac Tech stake: sources".
Lots of big names eh?
The Chinese government will step into fifth gear this year when it comes exploring for natural gas hidden under thick shale rock beneath the earth’s surface, an official said over the weekend. China’s been promising to move forward on shale gas production for the past two years.Earlier this month:
The Ministry of Land and Resources said Sunday that China will strengthen the survey and appraisal of shale gas in 2012 to expedite discovery and development of China shale deposits. The move comes after the recent approval of the State Council in the capital to list shale gas as an independent mineral resource. China is slowly moving towards producing shale gas.
Currently, the country does not have any shale natural gas production, adding to the country’s overall lack of natural gas in its energy matrix. China’s rough terrain and lack of technological know-how has kept it out of the shale gas biz. The country is largely beholden to coal to keep the lights on.
China’s Ministry of Land estimates the country holds around 31 trillion cubic meters of natural gas hidden under shale, equivalent to the total amount of conventional natural gas. If developed, the country’s shale gas output could exceed 100 billion cubic meters by 2020, Land Ministry’s second in command, Wang Min, told reporters during a national geological survey conference in Beijing this weekend.
China’s reserves are almost 50% greater than those of the U.S., according to the U.S. Energy Information Administration....MORE