Mergers & Acquisitions News


Jersey Oil & Gas to Buy Cieco V&C

Nov 26, 2020

UK oil and gas exploration and production firm Jersey Oil & Gas (JOG), has agreed to buy Cieco V&C, a company which owns an interest in JOG-controlled Licence P2170, in the UK North Sea.The company has entered into a conditional sale and purchase…

AqualisBraemar to Acquire LOC Group

Nov 23, 2020

Offshore energy and marine consultancy AqualisBraemar will acquire marine and engineering consulting firm LOC Group (London Offshore Consultants).Oslo-listed group AqualisBraemar, which offers consultancy services to the offshore energy industries…

Woodmac: Quiet Year for Upstream M&A in Asia Pacific. Improvement Seen in 2021

Nov 20, 2020

The year 2020 is on course to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century, energy intelligence firm Wood Mackenzie said in a report this week, adding that the activity is expected to bounce back in 2021…

PetroNor Acquires Offshore Assets in Guinea Bissau

Nov 20, 2020

Oslo-listed oil and gas company PetroNor has acquired SPE Guinea Bissau AB, a Guinea Bissau subsidiary of Sweden-based Svenska Petroleum. The acquisition entitles sub-Saharan Africa focused PetroNor to become the operator of the Sinapa (Block…

Aker Solutions Pledges to Speed Up Work on Sustainable Energy Production as Kvaerner Merger Complete

Nov 11, 2020

Norwegian energy services giant Aker Solutions on Tuesday completed its previously announced merger with compatriot Kvaerner, and has pledged that the new company would work on speeding up the transition to sustainable energy production.'It…

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…

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