Mergers & Acquisitions News

 

Premier Oil Drops Tolmount Deal with Dana

Jul 02, 2020

Premier Oil said on Thursday it will not acquire the additional 25% interest in the Tolmount gas project from South Korea's Dana Petroleum, while its creditors approved the acquisition of BP's North Sea assets under the amended terms.The UK…

RWE, E.ON Complete Asset Swap

Jul 01, 2020

In what has been described one of the largest transactions in German industrial history, RWE and E.ON on Wednesday completed a major asset swap they'd agreed on in 2018.The two companies in March 2018 agreed on a complex deal that would eventually lead to RWE taking over E…

Alaska Greenlights BP's Sale of Oil Leases to Hilcorp

Jun 30, 2020

Alaskan officials on Monday approved BP Plc's sale of its oil and gas leases in the state to closely held Hilcorp Energy Co. as part of a previously announced $5.6 billion deal.BP last year agreed to sell its Alaskan properties, including interests…

BP to Sell Petrochemicals Business to Ineos for $5B

Jun 29, 2020

British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer, said: “With today’s…

Energean, Edison Cut Norway from E&P Sales Deal

Jun 29, 2020

Oil and gas companies Energean and Edison have agreed to exclude Edison's Norwegian assets from the proposed sale of Edison's E&P business to Energean. Apart from the exclusion of Norway, the companies have also reduced the value of the deal by $111 million…

Talos Acquires Castex Energy 2005's Gulf of Mexico Assets

Jun 22, 2020

The Gulf of Mexico-focused oil company Talos Energy has acquired assets from affiliates of Castex Energy 2005. Talos said Monday that the acquired assets consisted of 16 properties in which Talos currently holds a working interest, all located in its U…

Norway: Endur, Oceano Set to Merge

Jun 19, 2020

Norwegian energy services firm Endúr has said it is working on a merger with compatriot marine engineering company Oceano.Endur, formed in 2019 after the merger of Bergen Group ASA with Endúr Fabricom, has signed a letter of intent with the…

Fulkrum Acquires Oceaneering’s Third-party Inspection Division

Jun 16, 2020

Fulkrum Technical Resources (FTR), a provider of technical personnel specializing in QA/QC, inspection, and vendor surveillance services to the energy industry, has taken in Oceaneering’s third-party inspection division – including two key members of staff…

Offshore Helicopter Players Bristow, Era Complete Merger

Jun 12, 2020

Helicopter providers Bristow Group and Era Group have completed their previously proposed merger. The merged company now owns a fleet of more than 300 helicopters.In a joint statement on Thursday, the companies, providing helicopter services to the offshore energy industry…

Bahamas Petroleum, Columbus Energy Propose All-Stock Merger

Jun 11, 2020

Bahamas Petroleum Company, an oil firm with assets in the Bahamas, and as of recently offshore Uruguay, is set to merge with Trinidad-focused Columbus Energy Resources.The boards of directors of the two companies on Thursday said they had reached…

Croatia Working to Buy Back INA from MOL

Jun 10, 2020

Croatia expects to start talks with Hungarian energy group MOL on a possible buyback of shares in Croatian gas and oil company INA by the end of June, the country's Energy and Environment Minister Tomislav Coric said.Croatian Prime Minister…

Norway: CSS Buys Isotek

Jun 08, 2020

Norway's subsea pipeline repair and tie-in solutions provider Connector Subsea Solutions (CSS) has completed the acquisition fo Isotek Oil and Gas for an undisclosed fee.CSS said the purchase would bring Isotek’s remote welding technology to…

BP Sweetens North Sea Deal with Premier Oil

Jun 05, 2020

British oil major BP has agreed to discount the price of the North Sea assets it is selling to Premier Oil, Premier said on Friday.Under the new deal, Premier only has to pay $115 million out of the initial price of $625 million if oil prices…

Premier Oil Agrees Deal with Creditor over Buying BP's North Sea Fields

Jun 05, 2020

Premier Oil will issue discounted shares to activist hedge fund ARCM representing 8.91% of the company to pay for North Sea assets from BP, which agreed to reduce the price, Premier said on Friday.ARCM, which owns around 15% of Premier's debt and has a large short position in its shares…

Seafox Drops Takeover Pursuit of GMS

May 28, 2020

Dutch jack-up services company Seafox has ended its pursuit to acquire rival Gulf Marine Services.After it in April floated an idea about the possible takeover of GMS, the GMS board rejected the plan deeming the move opportunistic, valuing the company's equity 'at only US$32 million…

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