North Sea private equity-backed Chrysaor's talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations, three sources close to the process said. The breakdown in negotiations highlights difficulties…
The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…
British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F. Lehman & Company (JFLCO) for around $250 million.With a legacy dating to 1850, GMG…
The proposed merger between Prosafe and Floatel, two of the largest offshore accommodation providers, has hit a stumbling block in the UK after an in-depth review by the competition authority said the deal 'raises competition concerns.'The two…
Algeria has definitely been excluded from Energean's pending acquisition of Edison E&P.The Greek oil and gas company in July last year agreed to buy Italy-based Edison's oil and gas subsidiary Edison Exploration & Production for an initial consideration of $750 million…
Quetzal Capital, a Kuok Group company, has launched compulsory acquisition for the remaining shares of the Singapore-based offshore vessel operator PACC Offshore Services Holdings, also known as POSH. Quetzal had launched a cash takeover offer for POSH back in November 2019…
Africa-focused oil company VAALCO Energy has appointed William R. Thomas as president to help its M&A ambitions.VAALCO said: 'The Board believes the appointment of an experienced executive, with a commercial background in investment banking and proven track record for M&A-led value creation…
Singapore-based offshore vessel owner Pacific Radiance has started loan talks with „a global investment fund“ after its discussions with an investor stalled in December 2019.Pacific Radiance had in August 2019 said it was in talks with an unnamed financier over a $180 million loan which it would…
Polish gas company PGNiG is open to consolidation with other energy companies, its newly appointed chief executive said on Friday, as the government tries to merge state-run firms to strengthen their market position.The Polish state is a major shareholder in the energy sector…
Wind energy companies EDP Renewables and Engie have signed a deal to form 50/50 joint-venture (JV) in fixed and floating offshore wind.EDPR and ENGIE will combine their offshore wind assets and project pipeline in this new entity, starting with a total of 1…
Offshore helicopter specialists Bristow and Era have entered into a definitive merger agreement.In a joint statement on Friday, Bristow and Era said the combination in an all-stock transaction would create 'a financially stronger company with enhanced size and diversification…
Premier Oil's biggest lender on Friday raised fresh concerns over the company's plan to have its creditors vote on planned acquisitions of North Sea assets under a scheme that allows it to delay debt repayments and issue new shares. The company…
Denmark's Orsted, the world's largest operator of offshore wind parks, plans to steer clear of super-sized takeovers, its chief executive said on Tuesday, opting instead for a string of small deals as a strategy to grow.'I'm fundamentally convinced…
Croatian DIV Group is set to buy Kleven Verft, a Norwegian shipbuilding company specializing in the construction of offshore and cruise vessels.DIV, which owns the Brodosplit shipyard in Split Croatia, has signed an agreement to buy the Norwegian company based in Ulsteinvik…
Schlumberger, Halliburton Co, and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three largest names in oilfield services seek to reshape their businesses and adjust to falling demand.Oilfield service providers…
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