Sinochem is looking to withdraw from 840 sq km of tenements in the Pioneer-operated Wolfcamp shale play in the Permian Basin in a move aimed at poor margins and slow returns internationally â Sinochem's exit efforts also apply to the 40% in the Equinor-operated Peregrino field in Brazil. Offers so far are said to have been unattractive. The Wolfcamp area produces ab. 60,000 boe/d, 70% shale oil.
Sinochem is looking to withdraw from 840 sq km of tenements in the Pioneer-operated Wolfcamp shale play in the Permian Basin in a move aimed at poor margins and slow returns internationally â Sinochem's exit efforts also apply to the 40% in the Equinor-operated Peregrino field in Brazil. Offers so far are said to have been unattractive. The Wolfcamp area produces ab. 60,000 boe/d, 70% shale oil.