ETE said it has filed a counterclaim to Williams' lawsuit. The lawsuits are the latest twist in what has been a testy transaction almost from the get-go, Reuters reported.
The commissioner of Papua New Guinea's ICCC said he was concerned the parties were not coming to the ICCC for regulatory approvals. The merger would assemble a LNG powerhouse in the country.
InterOil is coveted for its stake in the Elk-Antelope fields, which could hold at least 6.2 trillion cubic feet of gas, more than enough to fill one LNG processing train. Drilling of one more well this year could prove it holds much more.
The transaction is expected to deliver annual pretax savings of at least $400 million as of 2019 and boost earnings per share significantly, the companies said in a statement on May 19.
Williams said in a statement that Energy Transfer Equity has used "delay and obstruction" to try and wriggle out of its agreement but Energy Transfer responded on May 15 by saying the lawsuit was an attempt to gain leverage in any future deal talks.
In Mexico, Beatriz Camarena Maney also was international legal liaison to foreign oil and gas entities for Pemex. Humberto D. Sirvent is OFSCap's lead partner for private equity, family offices and other categories.
The bid adds to a spate of energy deals in Australia over the past year with acquirers seeking to swoop on beaten down assets, from Beach Energy's takeover of Drillsearch Energy to Woodside Petroleum's bid for Oil Search.
Ethos Offshore Ltd. is backed by investment funds advised and managed by Oaktree Capital Management LP. It is expected to have a contracted backlog of $145 million worth of projects.
Williams has alleged that Energy Transfer is looking into ways to walk away from the tie-up even though the terms of the deal would not allow that.
As result of the closing, Petro River acquired $5 million in cash and receivables, and an indirect 20% membership interest in Horizon Energy Partners, a news release said.
A new timeline will give the companies time to renegotiate terms ahead of June 28 - the deadline for the deal to close, people familiar with the matter told Reuters on May 2.
Baker Hughes will get $3.5 billion as part of the merger agreement, which the companies terminated on May 1 after opposition from U.S. and European antitrust regulators.
|E&P||USD 4400||Members only||Memorial Resource Development Corp.|
|E&P||CAD 595||Members only||Husky Energy Inc.|
|E&P||CAD 475||Members only||Athabasca Oil Corp.|
|E&P||USD 0||Members only||JX Nippon Oil & Gas Exploration Corp.|