Talisman Gets a New Thai JV Partner for Marcellus Drilling in NEPA

BanpuThailand’s largest coal miner, Banpu Pcl, has spent $112 million to buy a 29.4% stake in the Chaffee Corners Joint Exploration Agreement (JEA). JEA is a Marcellus shale drilling joint venture 65.4%-owned and operated by Talisman Energy. What it means is that Talisman has a new partner in their northeast PA Marcellus drilling program. Banpu has hired the former CEO of PTT Exploration and Production Pcl, Thailand’s largest oil and gas explorer, as a director and to advise Banpu on JEA and on the company’s new and developing upstream gas strategy. PTT Exploration and Production is a subsidiary of Thailand’s state-owned PTT Public Company Limited. PTT Global Chemical is another subsidiary of PTT Public Company Limited–and the company proposing to build a $5B+ ethane cracker complex in Belmont County, OH (see It’s Official: Belmont County Chosen as POSSIBLE Cracker Plant Site). Conclusion: The government (and companies) of Thailand are investing in American shale energy in a major way. Here’s the news about Banpu becoming a new partner with Talisman in the Marcellus…

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