In early 2013, Sinochem, a Chinese company, entered into a $1.7 billion joint venture with Pioneer Natural Resources to acquire a stake in the Wolfcamp Shale play in West Texas. This investment highlights a renewed trend toward foreign joint ventures. Since 2008, foreign companies have entered into 21 joint ventures with U.S. acreage holders and operators, investing more than $26 billion in tight oil and shale gas plays for field machining. Investment in shale plays in the United States totaled $133.7 billion between 2008 and 2012.” “Both U.S. and foreign companies benefit from these deals. U.S. operators get financial support, while foreign companies gain experience in horizontal drilling and hydraulic fracturing that may be transferable to other regions. Mactech’s Take: Gaining experience in a foreign market is an extraordinary way to grow your business and I believe it can be applied to all industries. Fraccing is a game-changing technology that has fueled the current United States Energy market and is a technology that could aide the entire world in unlocking potential energy plays. Field machining practices tend to run through similar practices. Many times we hold training seminars at our shop for customers and partners from other international countries and this allows them to perform their tasks with precision and expertise. Everyone benefits from this as our tools shine brightest when the operator behind them knows exactly what they are doing. To be the best you must learn from the best, and we are always willing to share our knowledge. Read more from the source: pennenergy.com