South Korean conglomerate Hanwha has bought a stake in a US oil field from US independent O'Ryan Oil & Gas for $30 million. Hanwha did not disclose the size of the stake or location of the field, which it said is now producing 1,100 b/d with output set to reach 3,000 b/d in 2011. O'Ryan's production is spread across Texas, Louisiana and Wyoming.
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