Energy Business Review: Walter Energy Might Be PURCHASED, Sinopec Might BUY Chesapeake Fields

These were yesterday’s top stories:

Shares of coal producer Walter Energy, Inc. (NYSE:WLT) rebound Wednesday after a tweet by Doug Kass, which speculated that Xstrata Plc (XSRAF.PK) could be mulling an approximate $47.50 per share bid for the company.

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Sinopec’s (NYSE:SNP) wants to invest $1 billion in a Texas clean coal project, which might suggest an acquisition of Chesapeake Energy Corporation’s (NYSE:CHK) Permian Basin oil fields, says Christopher Helman. The project targets the capture of carbon dioxide emissions from coal, to subsequently inject it into old oil fields to bring out more crude, and the analyst believes that SNP might be getting hold of a long-term carbon dioxide supply, before it reports a deal with Chesapeake.

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