An activist investor seeking to halt Capricorn Energy Plc’s (LON: CNE) takeover by NewMed Energy LP has converted its holdings to common shares, according to people familiar with the matter.
Palliser Capital has joined criticism of Capricorn Energy’s proposed merger with NewMed Energy, saying it undervalues the Egypt-focused producer.
Capricorn Energy should abandon its proposed merger with NewMed Energy and opt instead to liquidate its assets, a shareholder has said.
As of 26 September, Westwood Global Energy reports that there are three exploration wells active, with one in the CNS and two in the NNS. Two appraisal wells are currently active in the CNS. One well completed at Diadem.
Tullow Oil remains committed to its merger with Egypt-focused Capricorn Energy, which has faced mounting headwinds.
Amid mounting opposition from some investors to its proposed merger with Tullow Oil, Capricorn Energy is “assessing all options to maximise value for shareholders”.
An investor in Capricorn Energy has expressed its opposition to the company’s merger plan, describing it as one sided in favour of Tullow Oil.
As Tullow Oil works to execute its merger with Capricorn Energy, the company is focusing on growth projects.
Capricorn Energy head Simon Thomson has defended the company’s merger with Tullow Oil in an interview with the Sunday Times.
A small group of deep-pocketed companies increasingly dominates exploration and, as yet, they are avoiding the boom-and-bust mentality of previous oil cycles.
Exploration is back, emissaries of some of the world’s top oil companies have said, with Africa in a strong position to meet new demand.
Oil and gas firm Capricorn Energy confirmed drilling is away to kick off on a North Sea prospect imminently.
Shell and Deltic Energy will press ahead with drilling a major North Sea gas exploration target later this year.
The Africa Energies Summit will be held in London from May 17 to 19, with the show expanding beyond oil and gas and into power.
Years have passed since the last exploration well was drilled in the Southern North Sea, and Deltic Energy is hoping to lead a fresh wave of activity.
The Shell Jaws well in the North Sea has proved unsuccessful, partner Capricorn Energy has announced.
Capricorn Energy expects to earn around £56 million on the back of higher UK production, following the sale of its North Sea interests to Waldorf Production last year.
Capricorn Energy – formerly Cairn – has withdrawn global legal proceedings against the Indian government, paving the way for a $1bn tax refund.
Helicopter operator CHC has landed a contract to transport workers for the Capricorn Energy (formerly Cairn Energy) Diadem drilling campaign in the North Sea.
Scottish oil firm Cairn Energy (LON: CNE) has announced it will change its name to Capricorn Energy, effective from December 13.