Ophir Agrees to Be Bought by Medco for $511 Mln

January 30, 2019

Alpha and Beta platforms on Bualuang Field, Thailand (Photo: Ophir Energy)
Alpha and Beta platforms on Bualuang Field, Thailand (Photo: Ophir Energy)

Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.

The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec. 28, the last trading day before Medco first announced a possible offer for the London-listed company.


($1 = 0.7644 pounds)

(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)



Current News

Esgian: Seadrill’s Fleet Value Plunges

Esgian: Seadrill’s Fleet Value Plunges

RockRose Takes Over SSE's UK North Sea Gas Fields

RockRose Takes Over SSE's UK North Sea Gas Fields

New Kupe Compressor to 'Allow Us to Suck Harder on the Straw,' NZOG CEO Says

New Kupe Compressor to 'Allow Us to Suck Harder on the Straw,' NZOG CEO Says

Germany's Nord Stream 2 Gatekeeper: The Long Road Until Gas Flows

Germany's Nord Stream 2 Gatekeeper: The Long Road Until Gas Flows

Subscribe for OE Digital E‑News

Offshore Engineer Magazine