Mergers & Acquisitions News

 

DNO Clinches Faroe Petroleum

Jan 09, 2019

Norwegian oil company DNO has secured control of Faroe Petroleum, a day after raising its hostile bid for the British company to 641.7 million pounds ($819 million).The move effectively ends a bitter battle that started around nine months ago when DNO bought a stake in the British firm, only for Faroe to resist its requests for board seats.DNO said on Wednesday it owned or had acceptances for its bid representing 52…

Shell Joins Dutch Pension Fund to Bid for Eneco

Jan 15, 2019

British-Dutch oil and gas company Royal Dutch Shell and Dutch pension fund manager PGGM are considering a joint bid for Dutch producer and supplier of natural gas Eneco, which is heavily invested in sustainable energy projects and worth an estimated USD 3…

Faroe Execs Quit After DNO Takeover

Jan 11, 2019

Faroe Petroleum's Chief Executive Graham Stewart, Chief Financial Officer Jonathan Cooper and Chief Operating Officer Helge Hammer will resign, Faroe said on Friday after the company was taken over in a hostile bid by DNO.The executives, including Stewart who was among the founders of Faroe…

Sphera Acquires Petrotechnics

Jan 08, 2019

Sphera, a provider of integrated risk management software and information services with a focus on operational risk, environmental health and safety and product stewardship, announced it has acquired Petrotechnics, a provider of operational risk software for hazardous industries…

DNO Raises Cash Offer for Faroe Petroleum

Jan 08, 2019

Norwegian oil company DNO ASA raised its bid for Britain's Faroe Petroleum to 641.7 million pounds ($816 million) on Tuesday, lifting its cash offer to 160 pence per share from 152 pence.Shares in Faroe, which rejected DNO's 610 million pound…

Hedge Fund Opposes Rowan Sale to Ensco

Jan 07, 2019

Hedge fund Canyon Capital Advisors has warned it would vote against the $2.38 billion sale of offshore driller Rowan Companies Plc to rival Ensco Plc, casting doubt on a combination that had signaled optimism about the future of offshore exploration…

Eni Acquires 70% stake in Oooguruk Field Offshore Alaska

Jan 06, 2019

Italian oil and gas company Eni has agreed to acquire a 70% stake in the Oooguruk oil field located offshore Alaska from Caelus Natural Resources Alaska for an undisclosed price.With Eni already holding 30% working interest in the oilfield, the Italian energy major’s operating stake in the same…

DNO Adds to Faroe Stake in Hostile Takeover Saga

Jan 04, 2019

Norwegian oil company DNO has achieved another slight increase to its stake in Faroe Petroleum, it said on Friday as it continues its battle for control of the British business.DNO's combined ownership and bid acceptances now stands at 43.8 percent…

DNO Requires Fewer Faroe Shareholders to Back Bid

Jan 03, 2019

Norwegian oil company DNO said on Thursday that it now requires only 50 percent of Faroe Petroleum shareholders to back its takeover bid after it lifted its stake in the UK firm, boosting the chances the hostile offer will go through.Shares in both companies jumped after DNO's statement…

DNO Bid Undervalues Faroe by 48 %

Jan 03, 2019

North Sea player Faroe Petroleum published an independent valuation of its assets by Gaffney, Cline & Associates (GCA), which is said to highlight the inadequacy of DNO ASA's GBP608 million at 152p per share takeover offer.Faroe Petroleum could…

WoodMac on Medco Energi's Potential Takeover of Ophir Energy

Jan 03, 2019

Wood Mackenzie Research Director, Angus Rodger, provides insight on a of UK-listed Ophir Energy by Indonesia's Medco Energi.'On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released…

Medco Energi's Potential Deal with Ophir Seen as Diversification Play

Jan 02, 2019

Medco Energi Internasional Tbk PT would boost its valuations and gain access to international assets if its potential takeover of London-listed Ophir Energy occurs, analysts said on Wednesday.Medco confirmed this week that it was in talks with…

Halo Completes Acquisition of Third Energy Offshore

Jan 02, 2019

Hague and London Oil (Halo) said that it has now formally completed its acquisition of Third Energy Offshore Limited (TEOL).The Southern North Sea-focussed company, with a diverse portfolio of offshore and onshore producing, development and…

Ophir Gets Takeover Interest from Medco Energi

Dec 31, 2018

Britain's Ophir Energy said on Monday it is in discussions for a possible all-cash takeover offer with a unit of Indonesia's Medco Energi Internasional Tbk PT.Ophir, an upstream oil and gas exploration and production company focused on Asia and Africa…

Panoro Completes OMV Tunisia Acquisition

Dec 21, 2018

London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP…

Current News

Fugro to Mobilize Edda Sun for IRM Work

Fugro to Mobilize Edda Sun for IRM Work

Saipem Wins EPIC Work from Saudi Aramco

Saipem Wins EPIC Work from Saudi Aramco

Schlumberger to Manage Equinor Project in Brazil

Schlumberger to Manage Equinor Project in Brazil

BP Goes Global with Seismic Tech

BP Goes Global with Seismic Tech

Shell to Pick Either Onesubsea or TFMC for Ormen Lange Phase 3

Shell to Pick Either Onesubsea or TFMC for Ormen Lange Phase 3

Safer Than Other Industries

Safer Than Other Industries

Schlumberger Sees International Growth in 2019

Schlumberger Sees International Growth in 2019

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week