Conoco Farms Into China CBM

摘要

ConocoPhillips has set up a joint venture with coalbed methane (CBM) player Green Dragon Gas for options to farm into CBM blocks in China. London-listed Green Dragon said Monday Conoco will make an initial payment of $20 million and fund up to $30 million of the capital expenditure associated with developing surface-to-inseam wells at the Shizhuang South, Shizhuang North and Qinyuan blocks in Shanxi province.