Mergers & Acquisitions News

 

Caterpillar to Buy Weir's Oil and Gas Business for $405M

Oct 05, 2020

Weir Group Plc said on Monday it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc for $405 million in cash, as the engineering company focuses on its mining business.Shares of Weir surged 22.5% to 1,568p…

IOG Drops Deltic Energy Takeover Pursuit

Oct 05, 2020

UK-based oil firm Independent Oil and Gas will not be pursuing the takeover of rival Deltic Energy after initially announcing its interest in a potential all-stock transaction last month.However, IOG on Monday said it did not intend to make an offer to acquire Deltic…

Noble Energy Shareholders OK $4.1B Sale to Chevron

Oct 05, 2020

Noble Energy shareholders on Friday approved a deal to sell the oil and gas producer to Chevron Corp, making Chevron the No. 2 U.S. shale oil producer and giving it international natural gas reserves close to growing markets.The all-stock deal values Noble Energy at around $4…

Noble Shareholders Set to Approve $4.2B Chevron Deal

Oct 01, 2020

Noble Energy Inc shareholders on Friday are expected to approve its sale to Chevron for about $4.2 billion in stock, cementing the first big energy deal since the coronavirus crushed global fuel demand.The purchase would boost Chevron's U.S…

Konecranes and Cargotec to Merge

Oct 01, 2020

Finnish engineering firm Konecranes and cargo handling machinery maker Cargotec plan to merge to help speed up innovation and reap savings, they said on Thursday, sending both of their shares sharply higher.The boards of the companies, which…

Eni to Take Over Indonesian Deepwater Development?

Sep 30, 2020

Italy's Eni is expected to take over the Indonesian Deepwater Development (IDD) project as operator Chevron sells its interest in the gas venture, the chairman of the country's upstream oil and gas regulator said on Wednesday.Chevron confirmed…

Edison Chouest's C-Innovation Acquires Caltex Oil Tools

Sep 28, 2020

Edison Chouest Offshore's marine services affiliate C-Innovation has acquired the controlling interest in Caltex Oil Tools, a provider of equipment rentals, services, and customized engineering capabilities to the offshore industry.C-Innovation said that the Houston-based Caltex…

Udenna Wants to Take Shell's Malampaya Stake

Sep 28, 2020

Philippine oil and shipping group Udenna Corp on Monday expressed interest in acquiring Royal Dutch Shell PLC's 45% stake in the Malampaya gas-to-power project, in partnership with state-owned Philippine National Oil Company (PNOC).Shell is…

Petrobras Eyes Sale of Albacora Offshore Fields

Sep 25, 2020

Brazilian national oil company Petrobras has launched a teaser for the potential sale of its interests in Albacora and Albacora Leste deepwater offshore blocks in Brazil.Petrobras is selling a 100% operated working interest in the Albacora offshore…

OKEA Buys Into Calypso Prospect Near Draugen Field

Sep 25, 2020

Norwegian oil company OKEA will acquire an interest from Neptune Energy in an offshore block in Norway containing the Calypso prospect, with a potential of up to 37 million barrels of oil.OKEA will take a 30% working interest in the production license PL938…

Jadestone, OMV Take More Time to Wrap Maari Field Transaction

Sep 25, 2020

Oil and gas company Jadestone Energy and OMV have agreed to extend the long-stop date for the completion of Jadestone's acquisition of OMV's stake in the Maari project, in the shallow waters offshore New Zealand.Singapore-based Jadestone in…

Report: Premier Oil Wants Another Price Cut for BP North Sea Deal

Sep 24, 2020

Struggling oil and gas producer Premier Oil has begun talks with BP to lower for the second time a $210 million deal to acquire stakes in two North Sea oilfields, sources told Reuters on Wednesday.Premier is seeking to reduce the cash payment…

Recruitment Firms Fircroft, NES Global Talent Set to Merge

Sep 22, 2020

Fircroft, and NES Global Talent, two global recruitment companies providing skilled personnel across various sectors including oil and gas, renewables, and power sectors, have agreed to merge.'The integration of these two great businesses will…

IOG Ponders Deltic Energy Takeover Bid

Sep 11, 2020

The North Sea-focused oil and gas company Independent Oil & Gas said Friday it was considering tabling an all-stock offer for the takeover of rival Deltic Energy. Deltic Energy is a London-listed company with assets in the North Sea. The company…

Report: Activist Investor Seeking to Break Up Noble Energy's Sale to Chevron

Sep 10, 2020

Activist investor Elliott Management is seeking to break up Noble Energy Inc's $5 billion sale to oil major Chevron Corp, a Bloomberg reporter tweeted on Wednesday.A notice posted on the U.S. Federal Trade Commission website on Tuesday showed the hedge fund had built a stake in Noble Energy…

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