Mergers & Acquisitions News

 

Hydra Service Sold to Local Investment Group

Mar 27, 2023

Hydra Service, manufacturer of Dynapower pumps, motors and turbine starters, announced it has been purchased by a local manufacturing investment group led by Mick Webber. According to the company, the new ownership and existing management are committed to servicing and replacing old equipment…

Serica Energy Completes Acquisition of Tailwind Energy

Mar 23, 2023

UK-based oil and gas company Serica Energy said Thursday it had completed the acquisition of Tailwind Energy and that admission of the completion consideration shares to trading on AIM has occurred.Serica said in December 2020 it would acquire Tailwind…

Serica Energy's Acquisition of Tailwind Energy Set to Complete

Mar 21, 2023

Oil and gas company Serica Energy said Tuesday that the conditions precedent in relation to its proposed acquisition of Tailwind Energy from Tailwind Energy Holdings LLP had been satisfied, save for the condition precedent relating to the Admission of the Completion Consideration Shares…

Maersk Sells Supply Service to Family Holding Company for $685M

Mar 20, 2023

Maersk has agreed to sell its offshore marine service provider Maersk Supply Service to family-owned holding company A.P. Moller Holding for $685 million, the Danish shipping giant said in a statement on Monday.The sale marks the completion…

Equinor to Sell 28% Stake in Statfjord Area to OKEA for $220M

Mar 20, 2023

Norwegian oil and gas company OKEA  has agreed to acquire a 28% stake in offshore block PL037, in Statfjord Area, offshore Norway, from Equinor for an initial fixed consideration of $220 million.The Statfjord Area comprises the Statfjord Unit…

ABL Group to Acquire AGR from Akastor

Mar 20, 2023

Norwegian energy and marine consultancy group ABL Group has agreed to acquire 100% shares in offshore engineering, consultancy, and software company AGR from Akastor.'The purpose is to bolster ABL Group’s offering within well and reservoir consultancy…

HAL Buys Offshore Installation Equipment Firm IQIP from Royal IHC

Mar 17, 2023

HAL, the Dutch investment subsidiary of HAL Holding, has acquired IQIP, a supplier of foundation and installation equipment to the offshore wind, coastal & civil, and oil & gas markets from Royal IHC for an undisclosed fee.IQIP is active worldwide and both sells and rents out equipment…

After Delay, BW Energy Expects Closing of Petrobras' Oil Field Acquisition in Q2 2023

Mar 17, 2023

Oslo-listed oil and gas company BW Energy said Thursday the process to acquire Petrobras' interests in Golfinho and Camarupim deepwater oil fields and the related FPSO from Saipem was about to resume.In June 2022, BW Energy signed an agreement…

Norway's Loke Buys UK Deep-sea Mining Firm from Lockheed

Mar 16, 2023

Norway's Loke Marine Minerals has acquired deep-sea mining firm UK Seabed Resources (UKSR) from Lockheed Martin, the companies said on Thursday.UKSR holds a 100% interest in two deep sea mineral licences in the Clarion-Clipperton Zone (CCZ) in the Pacific Ocean…

Prax Group Set to Acquire Lancaster Oil Field Operator Hurricane Energy

Mar 16, 2023

UK-based Prax Group has reached a deal to acquire Hurricane Energy, the operator of the producing Lancaster oil field, west of Shetland.Hurricane has one asset, the Lancaster oil field, that produces from a single well (“P6”) and riser. As at ERCE…

Japan: JX Nippon to Buy Offshore Drilling Firm JDC

Mar 16, 2023

JX Nippon Oil & Gas Exploration Corporation has to acquire the entire issued shares of the offshore drilling firm Japan Drilling Co., Ltd. (“JDC”).The company plans to complete the acquisition around the end of April of  2023.'Upon completion of the acquisition…

Danos Buys Wood's Offshore Labor Supply Operations

Mar 14, 2023

John Wood Group has sold its offshore labor supply operations in the Gulf of Mexico to Louisiana-based energy services contractor Danos.The sale was for a cash consideration of $17 million, with Wood retaining working capital. This represents an EV/EBITDA multiple of around 8x…

Britain's Wood Group Considers Rejecting Latest Buyout Proposal from Apollo Global

Mar 07, 2023

John Wood Group said on Tuesday it was considering rejecting the latest buyout proposal from private-equity firm Apollo Global Management Inc, citing that the offer undervalued the British oilfield services and engineering company. The proposal by Apollo on March 6…

EIG's Breakwater Energy Acquires 25% Stake in Repsol Upstream for $4.8B

Mar 03, 2023

Breakwater Energy, a subsidiary of EIG, an institutional investor in the global energy and infrastructure sectors, has acquired a 25% interest in Repsol Upstream for a total consideration of around $4.8 billion, including debt, with Repsol holding the remaining 75%…

Equinor to Buy Suncor Energy UK in $850M Deal

Mar 03, 2023

Equinor said on Friday it would acquire the British oil and gas business of Canada's Suncor Energy SU.TO for $850 million, giving the Norwegian company stakes in several key North Sea petroleum assets.Equinor said the deal includes a 29.9% stake in the Buzzard oilfield…

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