Myanmar-born 'dreamer' snaps up U.S. drilling leases amid industry malaise

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A Myanmar-born perfume entrepreneur and missionary has snapped up nearly half of the oil and gas leases offered by the Trump administration since August, saying the coronavirus pandemic created an opportunity to buy them cheaply.

Levi Sap Nei Thang, who boasts a large social media following and said she is a Christian guided by meditation and prayer, spent more than $1 million bidding on federal drilling leases in 11 states in August and September, according to U.S. Bureau of Land Management sale documents.

“Nobody is buying now so there is no competition,” Thang said in an interview while driving in Utah on a Western tour focused on oil and gas development and other property ventures. “I don’t go by what people are doing.”Thang’s buying spree, which began in June, included a federal geothermal lease in Washington and drilling leases covering more than 30,000 acres on state lands in New Mexico and Wyoming for which she bid more than $1 million in total.

Thang said she has developed oil and gas previously, but would not say where or give the name of her other companies. She has not partnered with other investors, she said.

 

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