Mergers & Acquisitions News


All Conditions Met for Aker Solutions, Kvaerner Merger

Nov 09, 2020

Two Norwegian offshore energy services firms Aker Solutions and Kvaerner said Monday that all conditions had been met for their proposed merger to proceed.The two companies announced the proposed merger in June. Under the terms, Aker Solutions will absorb all the assets…

IKM Group Acquires Acona

Nov 04, 2020

Norway's IKM Group said Wednesday it has acquired 100% shares in the Norwegian offshore oil and gas consultancy Acona.Acona provides services within Well Management and Engineering, Environmental & HSEQ&Risk Services, Field Development, and Consultancy Services…

Baker Hughes to Buy Compact Carbon Capture in Push to Expand Beyond Oil and Gas

Nov 03, 2020

Baker Hughes Co said on Tuesday it would buy Compact Carbon Capture AS in a bid to expand its footprint beyond oil and gas oilfield services as it prepares for a transition to a low-carbon future.Facing pressure from shareholders worried about…

Premier Oil Creditors Support Merger with Chrysaor

Nov 03, 2020

UK oil company Premier Oil's creditors have given their approval for the company's merger with rival Chrysaor, proposed in October.To remind, the two UK-based offshore oil and gas companies Premier Oil and Harbour-controlled Chrysaor agreed to merge in an all-stock transaction…

Cenovus to Cut Up To 25% of Workforce after Husky Merger

Oct 29, 2020

Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc, the companies said on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch's biggest merger in nearly four years.The job losses could total about 2…

Vestas Buys Out Mitsubishi From Offshore Wind JV in Deal Valued EUR 709M

Oct 29, 2020

Wind turbine maker Vestas will acquire Mitshubishi Heavy Industries' shares in their joint venture MHI Vestas Offshore Wind joint venture, against MHI acquiring 2.5 percent in Vestas and being nominated to a seat in Vestas’ Board of Directors…

Chevron to Cut a Quarter of Noble Energy's Employees

Oct 28, 2020

Chevron Corp will lay off about 25% of Noble Energy's employees who joined the oil major after its $4.1 billion purchase of the smaller rival earlier this month, the company told Reuters on Tuesday.A collapse in crude oil prices has forced most…

Siemens, Carlyle Near $2.4 Billion Deal Over Flender Business

Oct 26, 2020

U.S. buyout group Carlyle Group Inc is nearing an agreement to acquire Siemens AG's mechanical drive arm Flender, for about 2 billion euros ($2.37 billion), Bloomberg News reported citing sources.Siemens and Carlyle are finalizing terms of the deal that could be announced as early as this week…

Chevron Bets on Middle East Gas Riches and Reconciliation

Oct 26, 2020

After years of focusing on U.S. shale, Chevron Corp is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long tread warily.CEO Michael Wirth's pivot away from home is underpinned by a bet…

Canada: Cenovus Energy to Buy Rival Husky Energy in $2.9B Deal

Oct 25, 2020

Cenovus Energy Inc has agreed to buy rival Husky Energy Inc in an all-stock deal valued at C$3.8 billion ($2.9 billion) to create Canada's No. 3 oil and gas producer, as a pandemic-driven collapse in demand forces the industry to consolidate…

Lloyd’s Register to Sell Energy Business

Oct 07, 2020

Maritime classification society and technical services provider Lloyd's Register Group (LR) has agreed to sell its Energy business unit to Inspirit Capital, a London-based investment firm.LR said that the agreement followed a review of LR’s business portfolio and strategic direction…

Premier Oil, Chrysaor Merger a "Win-Win" Analyst Says

Oct 07, 2020

As London-listed Premier Oil and UK North Sea focused Chrysaor announced their proposed all-stock merger this week, creating one of the largest UK North Sea oil and gas producers, Global Data analysts think the deal is a 'win-win.'As reported Tuesday…

Premier Oil, BP North Sea Deal Falls Through

Oct 06, 2020

Premier Oil abandoned its plans to buy North Sea fields from BP for $210 million after Premier was taken over by rival Chrysaor, marking a small dent in BP's $25 billion disposals target.'Premier will not be proceeding with the proposed refinancing…

Chrysaor, Premier Oil Set to Merge

Oct 06, 2020

Two UK-based offshore oil and gas companies Premier Oil and Chrysaor are set to merge in an all-stock transaction. Premier Oil also said that its proposed acquisition of BP's North Sea assets will not take place.In a joint statement released Tuesday…

Chevron Completes Acquisition of Noble Energy

Oct 05, 2020

U.S. oil major Chevron has completed the acquisition of its smaller rival Noble Energy, following the approval by Noble Energy shareholders.The proposed all-stock acquisition was initially announced in July, in what was at the time estimated to be a deal valued a $5 billion…

Current News

Trident Energy Enters Congo’s Oil and Gas Sector with Chevron and TotalEnergies Deals

Sintana Energy Expands Orange Basin Scope Offshore Namibia

Hess Sets Date for Shareholder Vote on Chevron Merger

US Releases Offshore Wind Liftoff Report and Promises Funding

Subscribe for OE Digital E‑News