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Sovereign Wealth Funds Briefing - Categorized | Investment

U.S. gas producer taps sovereign funds amid offshore oil anxiety

Posted on 24 June 2010

From Oilprice.com: Chesapeake Energy, a leading U.S. producer of shale gas, found plenty of willing buyers for its latest private placement as sovereign wealth funds in Asia expressed concern about the future of offshore oil drilling.
“We made the investment decision because the long-term gas price outlook is bright on a global push for clean energy and expectations of less deep-sea water drilling in the Gulf of Mexico after BP’s oil spill,” the Korean Investment Company said in a statement announcing it was buying $200 million of Chesapeake’s $900 million preferred share issue……………………………………….Full Article: Source

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