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Chevron Shale Bet Down Under Makes Senex Target: Real M&A

2013-03-06 20:01:00| Climate Ark Climate Change & Global Warming Newsfeed

Bloomberg: Senex Energy Ltd. (SXY), Asias worst gas exploration stock in the past year, is rebounding after Chevron Corp. (CVX)s investment in an Australian shale competitor stoked optimism that it may be the next target. Last week, Chevron made the biggest single investment in shale in Australia, agreeing to pay as much as $349 million for a stake in Adelaide-based Beach Energy Ltd.s Cooper Basin prospects. Senex, which also explores in the Cooper Basin, has risen 13 percent since Chevrons investment...

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