China's Xichao to acquire US-based Grenadier Energy assets for $420m

China's Xichao to acquire US-based Grenadier Energy assets for $420m

Oil platform at sea

Shanghai-listed Chinese energy service major Shandong Xinchao Energy Corporation has agreed to buy Grenadier Energy Partners’s Texas-based oil and natural gas assets for about $420 million, according to a filing with the bourse on Wednesday.