"Devon Energy Corp has said China's Sinopec will invest $2.2 billion for a third of the U.S. oil and natural gas producer's interest in five developing fields as part of a long-term partnership.
Shares of Devon climbed about six percent after the deal was announced.
Foreign companies like Sinopec, hungry for the know-how to produce oil and gas from shale and other unconventional basins, have invested heavily in North American acreage. Chesapeake Energy announced a similar $2.3 billion deal yesterday with French oil company Total SA."
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