Australia's Arrow Homes in on Chinese Coalbed Methane Block

摘要

As Beijing introduces a slew of incentives to encourage commercialization of its vast coalbed methane (CBM) resources, small Australian player Arrow Energy has farmed into a CBM block in China's Shanxi province.Arrow said Monday that it will farm into the Qinnan CBM production sharing contract (PSC) by taking a 75.25% stake in Texas-based Far East Energy Corp.'s (FEEC) existing 66.5% interest, giving Arrow 52% ownership of the block. FEEC is one of the largest foreign CBM exploration acreage holders in China.