Ophir Agrees to Be Bought by Medco for $511 Mln

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

Iberdrola Picks Up $4.9B to Finance 1.4GW UK Offshore Wind Farm

Iberdrola Picks Up $4.9B to Fi

Perenco Brings Woodside’s Trinidad Oil and Gas Assets Into Its Fold

Perenco Brings Woodside’s Trin

Vallourec Brings CNOOC, Petrochina as New Clients in Iraq

Vallourec Brings CNOOC, Petroc

Germany’s SEFE Inks Three-Year LNG Supply Deal with ADNOC

Germany’s SEFE Inks Three-Year

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine