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Acquisition And Merger

Chevron acquires NEXBASE™ brand, business from NesteOyj

Chevron Global Energy Inc, a wholly owned subsidiary of Chevron Corporation, has announced that it signed an agreement with NesteOyj to acquire its NEXBASE™ brand, associated qualifications and approvals, and related sales and marketing business. “We expect the addition of the NEXBASE™ brand and associated business to provide value to our customers through improved logistics, […]

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Shell divests Permian interest for $9.5 billion to ConocoPhillips

Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shales developer in the basin, for $9.5 billion in cash. The transaction will transfer all of Shell’s interest in the Permian to ConocoPhillips, subject to regulatory approvals. “After reviewing multiple strategies […]

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Sea drill concludes Settlement agreement purchase of Northern Ocean rigs

Seadrill Limited (“Seadrill” or “the Company”) (OSE:SDRL, OTCPK:SDRLF) announces that the Company has reached a settlement agreement with Northern Ocean Ltd. (“NOL”) predominantly with respect to balances outstanding from Seadrill’s preparation of the West Mira and West Bollsta rigs. The settlement agreement closes all outstanding balances, claims and counter-claims between the companies and their respective […]

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Woodside final acquisition of FAR‘s total interest in Senegal RSSD project

FAR Limited has announced the completion of the sale of its entire interest in the Senegal RSSD joint venture to Woodside Energy (Senegal) BV. In line with guidance given at the FAR Annual General Meeting, and as a result of completion, FAR has received US$126 million from Woodside. Additional payments to FAR, up to US$55 […]

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ExxonMobil seeks total divestment of global SantopreneTM business

ExxonMobil Chemical Company has signed an agreement with Celanese for the sale of its global SantopreneTM business for $1.15 billion, subject to working capital and other adjustments.  $1.15 billion sale advances strategic business objectives Sale includes two manufacturing sites in the United States and United Kingdom The sale includes two world-scale manufacturing sites in Pensacola, Florida […]

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INTEBLOC A DIGITAL OFFSHORE LIFTING TECHNOLOGY COMPANY DIVEST STAKE TO STENA DRILLING

Stena drilling, an independent drilling contractor has announced its acquisition of a 30% stake in intebloc, an award winning specialist digital lifting technology solutions provider, which improves the safety and productivity of offshore lifting operations. The deal marks another milestone on Stena Drilling’s digital evolution, as it positions itself as one of the most digitally efficient […]

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AqualisBraemar and LOC Group completes company integration process

Following the completion of AqualisBraemar’s acquisition of LOC Group in December 2020, the two groups have successfully finalised their integration process ahead of the original schedule, operating as AqualisBraemar LOC group with immediate effect.  The two companies have thereby created a leading global independent offshore energy and marine consultancy. In total, AqualisBraemar LOC has over […]

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Puma Energy, Trafigura and Sonangol in milestone Recapitalization and Acquisition signing agreement

Puma Energy Holdings Pte. Ltd, Trafigura PTE Ltd and Sonangol EP have announced the milestone signing of a series of agreed transactions. First, Trafigura has agreed to purchase from Sonangol its entire shareholding in Puma Energy for the sum of US$600m. Second, Puma Energy has agreed the sale of its Angolan business and assets to […]

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ReconAfrica Enters Into Letter of Intent to Acquire Renaissance Oil

Reconnaissance Energy Africa Ltd. and Renaissance Oil Corp. has announced that they have entered into a letter of intent (the “LOI”) setting forth the material terms and conditions upon which ReconAfrica will acquire all of the issued and outstanding common shares (the “Renaissance Shares”) and convertible securities of Renaissance (the “Transaction”). The Transaction is expected […]

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Noble Completes Combination With Pacific Drilling

Noble Corporation has announced the completion of its acquisition of Pacific Drilling Company LLC, effective on April 15, 2021. Pacific Drilling’s high specification ultra-deepwater drillship fleet further enhances Noble’s global position as an owner and operator of one of the most modern and technically advanced fleets in the offshore drilling industry.    Robert Eifler, President and […]

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