Shell leapfrogged Total to become the UK’s biggest net oil and gas producer after completing its £36million takeover of BG Group. The “mega-merger” was approved by shareholders from both companies last month and went through yesterday. It creates a firm with a net output of 200,000 barrels of oil equivalent (boe) per day in the UK alone.
Crescent Point Energy, Canada's No. 4 independent oil producer, said on Thursday it will acquire privately owned light oil producer Coral Hill Energy Ltd, operating in west central Alberta. The deal comes just days after Crescent Point's plan to buy another Canadian light oil producer, Legacy Oil + Gas, was approved by Legacy shareholders. "We are very pleased to have recently acquired Legacy Oil + Gas Inc and to acquire Coral Hill, as they both possess a large inventory of highly economic wells with significant waterflood upside," Scott Saxberg, chief executive of Crescent Point, said.
Late last month, qedi, of Aberdeen, was picked up for some £33million by Amec, so securing the firm's long-term future and providing the latter with a strategic expansion tool.