PITTSBURGH (AP) — A Chinese company plans to contribute $90 million to a joint venture to drill for natural gas in Pennsylvania.
Denver, Colo. based Energy Corporation of America says in a Monday release that Shenhua America Holdings Corporation will be part of a 50/50 joint venture to develop 25 natural gas wells in Greene County over the next 18 months. That's roughly 75 miles south of Pittsburgh.
Shenhua is a Chinese state-owned coal company. Shenhua will contribute the first $90 million for drilling the wells and Energy Corp. will operate of the properties.