Toreador Taps Hess as Partner in Fledgling French Shale Oil Play

摘要

Toreador Resources has chosen US Hess as a partner in its fledgling Paris Basin shale oil play in France, largely because of the US firm’s experience of the similar Bakken oil play in the US. Lacking the funding to go it alone, Fran- co-American Toreador — which has been losing money since 2006 — had been seek- ing an investment partner for its 1 million acre position since November. About 40 firms showed interest — including Royal Dutch Shell, Statoil and BP — but the Tore- ador board chose Hess.