Frontline 2012 was spun off from Frontline three years ago and has since divested its dry-bulk and gas fleet to focus on crude oil and product tankers, Reuters said.
Exmar will transfer its assets to Flex LNG in return for 323.7 million new shares in the company, giving it a 64.6% stake, London-based Flex LNG said in a statement July 1.
Shell’s acquisition of BG, scheduled to close in early 2016, requires further regulatory reviews from several foreign agencies, but the FTC ruling might serve as a model for further regulatory reviews.
Powder, based in Calgary, Alberta, has a 100% working interest in 5.75 sections in its core Hardy Bakken area in southeast Saskatchewan with current area production of about 100 bbl/d of light Bakken oil.
While focused mostly on Turkmenistan, Dragon is working to expand outside Central Asia in a bid to raise oil production to 100,000 barrels a day (bbl/d) by next year from almost 79,000 bbl/d in 2014.
Contract drilling fleets of Trinidad Drilling Ltd. and CanElson Drilling Inc. will combine after the companies combine under court-approved plan. The combined Canadian company will have 163 land drilling rigs.
The business combination will allow PEDEVCO to pay off senior debt, lower capital costs with a 3.75% bank credit facility and support drilling capital and a stock buyback.
Crescent Point Energy Corp. will buy Legacy Oil & Gas Inc. for CA$563 million (US$453 million) in shares, Bloomberg said. Crescent will gain about 22,000 barrels of oil equivalent daily.
Data analytics provider Verisk Analytics Inc. completed its acquisition of industry research firm Wood Mackenzie Ltd. The purchase price was 1.85 billion British pounds, about US$2.8 billion.
Anthony C. Schnur, CEO of Lucas, said the company is reexamining transactions abandoned after oil prices fell, or abandoned after the Feb. 4 announcement of the merger with Victory.
Services companies have taken the hardest hit in industry from the oil price drop, Bloomberg said. Companies with weaker balance sheets might need to consider mergers to survive.
With offices in Hong Kong, Singapore and New York, the acquisition of APC will expand Argan’s operations internationally.
|Mid||USD 257.5||Members only||Energy XXI Ltd.|
|E&P||USD 18.4||Members only||New Standard Energy Ltd.|
|Mid||USD 837.5||Members only||Bridger Logistics LLC|
|E&P||USD 0||Members only||Gale Force Petroleum|