The offshore supply vessel (OSV) industry has emerged from its 2017 trough, thanks in large part to a slight shrinkage of the active fleet, a string of debt restructurings, improved cost management, and an uptick in drilling activity in a few regions…
French marine services group Bourbon Corporation, which has been in a court restructuring process after its business was hit by volatile energy markets, said its assets would be taken over by its creditor banks.Bourbon said the Marseille commercial…
Global leader in offshore wind Ørsted A/S has signed an agreement to divest its liquefied natural gas (LNG) business to the leading global natural resources company Glencore.According to the Denmark's largest energy company, Ørsted entered into…
W&T Offshore announced it has acquired a 75% working interest in and operatorship of the Magnolia field in the central region of the deepwater Gulf of Mexico from ConocoPhillips for $20 million. The oil-weighted producing property, located in Garden Banks blocks 783 and 784…
US-based Talos Energy announced it has spent $640 million to acquire a portfolio of producing assets, exploration prospects and acreage in the US Gulf of Mexico.The exploration and production company announced on Tuesday that it has signed definitive…
Dutch pension investor APG and UK-based The Renewables Infrastructure Group (TRIG) have agreed to acquire the Merkur offshore windfarm.TRIG will acquire a stake of around 36% in the 396-MW Merkur farm in the German North Sea, while APG has agreed to buy the remaining 64%…
The Norwegian oil and gas major Equinor ASA said it has completed the purchase of a 50% stake in the Baltyk I offshore wind project (OWP) in Poland from Polenergia.The Bałtyk 1 offshore location license allows for a development of a wind farm with a capacity up to 1560MW…
Having now completed the $4.5 billion acquisition of ExxonMobil’s upstream business in Norway, Vår Energi has doubled its production to become the second largest operator on the Norwegian continental shelf (NCS) – with more growth planned in the years ahead…
Depending on who you talk to, the Romanian offshore either has two projects worthy of mention and an aging supplier base, or it’s the most up-and-coming and accessible oil and gas province in all the world.The truth, as usual, is somewhere in the middle…
Marine equipment fabrication and rental company Motive Offshore Group has rounded off the final quarter of 2019 with the launch of a new Flexibles division and supporting acquisition.Motive has completed the acquisition of Stavanger-based Pumptech for a seven-figure sum…
Ocean data company XOCEAN announced on Wednesday that it has completed the acquisition of autonomous hydrographic survey company 4D Ocean.The announcement follows the news of XOCEAN’s successful €7.9 million funding round earlier this month…
Norwegian pipeline firm Solveig Gas has agreed to buy oil firm Capricorn Norge from Cairn Energy for $100 million, completing its transformation into a North Sea field operator, Solveig's owner HitecVision said on Wednesday.The private equity…
Enhanced Well Technologies AS, a company owned and controlled by EV Private Equity together with Shell Ventures B.V. and the IKM Group, announced the acquisition of riserless mud recovery services provider IKM Cleandrill AS. This acquisition…
Well construction and intervention company Coretrax announced on Tuesday it has acquired Churchill Drilling Tools for an undisclosed sum as part of an ongoing growth and expansion strategy.Coretrax has been investing heavily in developing technology…
Norwegian accommodation services player Prosafe has filed an appeal against the Norwegian Competition Authority (NCA)’s rejection of its proposed merger with Swedish rival Floatel International.The merger would create the world's largest fleet of accommodation rigs - a North Sea giant…
Subscribe
