CGG launched a US$378.8 million (€350 million) rights offering to existing shareholders to fund its “transformational plan” to convert CGG from a seismic acquisition company into an integrated geosciences group. The CGG Oceanic Vega…
Chevron is planning a 24% reduction in its 2016 capital and exploratory investment program to US$26.6 billion, compared to 2015’s $35 billion. Chevron's Big Foot in the GoM. Image from Chevron…
French geoscience company CGG is proposing a US$378.9 million (€350 million) capital increase to finance its “Transformation Plan,” which the company first implemented in 2013. The Oceanic Vega…
Eni is in the process of selling the rest of its share in Galp Energia. The Italian giant began, through an accelerated bookbuilding procedure, the sale of 33,124,670 ordinary shares of Galp Energia, corresponding to the entire participation…
UK oil and gas firms are sitting on a war chest of £20 billion that could be released by simply improving their working capital management according to new research released today by business consultancy PwC. With no sign of an oil price rebound in sight…
Rex International (RII) entered into a subscription agreement with Lime Petroleum Norway (LPN) for about US$11.72 million (NOK 100 million) as capital injection for Lime’s drilling program obligations. Image from Rex…
US-based Freeport McMoRan is cutting nearly 30% from its oil and gas division, and a total of 29% from its July 2015 estimates. Image from Freeport McMoRan. The natural resources…
AMP Capital and 3i Infrastructure plc (3i Infrastructure) have entered into an agreement to jointly acquire 100% of Danish company ESVAGT from Maersk Group. AMP Capital is investing approximately £109 million to acquire a 50% interest…
While Shell’s agreement to acquire BG Group for US$69.9 billion is the largest mega deal since Exxon and Mobil merged in 1998, the underlying market is slow, according to research and consulting firm GlobalData. The company’s latest monthly…
Investment dollars are finding good value in the current low oil price environment, according to a panel of finance professionals who discussed the wealth of finance opportunities found in today’s oil and gas companies, at this weeks' CERAWeek in Houston…
Total's production should grow to about 2.8MMboe/d in 2017, as 15 major projects start-up in the period from now, the French super major said today (22 September). But, strict capital discipline will also be key, in addition to selling an additional US$10 billion of assets in 2015-17…
Business is good in the oilfield, and as increased production and steady commodity prices contribute an influx of cash, operators are reinvesting in themselves, expanding their share buyback programs. Management usually says that…
Venture capital firm Energy Ventures’ has announced a multi-million pound investment in Abrado Wellbore Services and its intention of seeking investing $100m in North Sea businesses seeking growth capital or buyouts over the next 12 months…
Anadarko Petroleum CorporationAnadarko Petroleum Corp. announced details of its 2013 capital program and guidance, and provided additional information regarding its significant U.S. onshore growth opportunities, deepwater and international mega projects and industry-leading exploration program…
SBM Offshore has agreed to the sale and transfer of GustoMSC to private equity group Parcom Capital for a consideration of approximately $185 million, to be paid in cash at closing. The sale is a first step in the divestment of some $400 million worth of non-core assets announced this summer…
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