Pankaj53. Chesapeake Energy Corp
Headquarters: Oklahoma City, Oklahoma
Bought By: Sinopec
Headquarters: Beijing, China
Oil and gas has always been a huge industry that’s dominated the world. Back in 2013, Beijing’s Sinopec spent $1 billion on a stake in a natural-gas field between Oklahoma and Kansas, owned by the Chesapeake Energy Corp.
“While Chesapeake has many quality assets, Chinese oil companies care more about their drilling and shale-fracking technology,” said expert Laban Yu. “The reason Chinese oil companies have gone after Chesapeake in the past year was also because they wanted to apply the technology to tap the world’s No.1 shale gas reserves in China.”