The deal represents China's deepening footprint in the US shale sector.
The sale excludes Woodbine's Manti assets, which Woodbine acquired in December last year $30.75 million. Those assets, which will be transferred back to that company prior to closing, comprise about 3750 net acres in Brazos and Madison counties, Texas.
The sale was first reported by research firm Global Hunter Securities, which advised Meidu on the deal.
