I agree as well, something doesn't seem right about these foreign JVs and acquisitions. I figure they win by securing US natgas but in addition, they get the technology to use in their countries. I also think the US shale deals are the new business driver, especially for CHK, but I think these companies can't pass up the $billions and future drilling funds. I think we are cutting off our energy source nose to spite our face (from the US perspective).
But look what the power player gascos are doing; they are sweeping into shale plays and aggressively securing leased acreage at unprecedented rates. Why? natgas prices at 10 year lows. yes a move to liquid exploration. But actually to score a couple wells, secure a large acreage portfolio, hype the play and then sell into a JV. This is a dominant business tactic these days.
I predict that 2012 unconventional shale play M&A activity will exceed previous years
About the time the US moves into a natgas infrastructure, we'll be buying "our" natgas from some other countries for inflated prices.
Well that is cynical, but the US does need to be cautious about all the foreign investment I would think. Especially now that Obama is announcing a natgas energy plan along the Picken's plan.