Sembcorp abandons merger plans in favour of Keppel O&M acquisition
Sembcorp Marine (S51.SI) has called off plans to merge with rival Keppel O&M, in favour of buying the company outright in a deal worth $3.2bn.
merger
Noble sets out final timeline for Maersk Drilling merger
Noble Corporation (NYSE: NE) has published full details of its offer for Maersk Drilling (CPH: DRLCO), setting out a timetable that would see the new company listed by 3 October.
Updated: Serica advises investors to hold fire as Andrew Austin’s Kistos unveils merger proposal
Serica Energy (LON: SQZ) has knocked back a proposed merger by North Sea counterpart Kistos Energy (LON: KIST).
Sembcorp Marine shareholders question Singapore yards mega merger
Singapore’s Sembcorp Marine (SGX:S51) has released the financial and operating metrics of its proposed combination with a restructured Keppel Offshore and Marine (Keppel O&M) (SGX:BN4) in a response to queries from its shareholders that fear share dilution.
More M&A in APAC: ESG worries and Woodside-BHP deal see more assets up for sale
More merger and acquisition (M&A) opportunities are expected to hit the market in Asia Pacific, as international oil companies (IOCs) continue to rationalise their portfolios, and ESG concerns trigger further divestments. This will help to unlock the deal flow in APAC, but potential acquirers could struggle to secure necessary finance without a strong ESG narrative.
Woodside completes merger with BHP Petroleum
Woodside Energy and BHP have completed the merger of Woodside with BHP’s oil and gas portfolio to create one of the world’s largest energy producers.
Woodside wins backing to buy BHP oil, gas amid climate backlash
Woodside Petroleum almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting.
Keppel, Sembcorp Marine complete merger deal to create world’s biggest oil rig builder
Sembcorp Marine has agreed to merge with Keppel Offshore & Marine in a deal that will create the world’s biggest builder of oil rigs and push the business further into renewables and alternative energy solutions. The pair are forming what could be one of the world’s largest offshore energy players worth $6.3 billion.
Singapore yard merger propels Keppel’s stock with deadline days away
The deadline for a transformative yard merger deal in Singapore between Keppel Corporation and Sembcorp Marine is just days away.
Woodside’s decommissioning bill to hit $6.7bn after BHP merger
The merger between Woodside and BHP’s entire petroleum business will see the combined decommissioning costs for the new super independent hit $6.7 billion over the next 30 years, according to Woodside’s prospectus filed to the London Stock Exchange this week.
Noble and Maersk Drilling to sell off several North Sea rigs to overcome merger hurdles
Maersk Drilling and Noble Drilling are preparing to sell a series of oil rigs, currently stationed in the North Sea, in order to get over competition hurdles.
Is Keppel O&M and Sembcorp Marine mega-yard merger stalling?
An agreement on the proposed merger between Singapore shipyard giants Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine should be struck by the end of April 2022. However, while significant progress has been made in advancing the deal that would create a mega-yard group, the pair said yesterday there “is no guarantee that definitive agreements will be executed.”
Woodside chief leans on BHP expertise for new leadership team
Woodside (ASX:WPL) chief executive Meg O’Neill has appointed several top BHP (ASX:BHP) executives into her new leadership team for the mega-merger that will establish one of the world’s top independent oil and gas companies.
Santos and Oil Search complete merger consolidating power in PNG
The merger of Australia’s Santos (ASX:STO) and Papua New Guinea-focused Oil Search is now complete following shareholder approvals and the blessings of PNG.
Woodside and BHP edge closer to merger
Australia’s Woodside (ASX:WPL) and BHP Group (ASX:BHP) today signed a binding share sale agreement for the merger of BHP’s oil and gas portfolio with Woodside.
Analysis: Noble and Maersk Drilling merger will create ‘industry giant’
The merger of Noble Corporation and Maersk Drilling will create the third largest offshore drilling company by fleet size in the world.
Updated: Noble Corporation and Maersk Drilling announce merger
Maersk Drilling and Noble Corporation have announced a merger between the two offshore drilling companies.
PNG wants bigger share of ExxonMobil’s LNG project
The government of Papua New Guinea (PNG) is pushing for a bigger shareholding of the ExxonMobil-led PNG LNG export project. The latest move was triggered by the proposed merger of Santos (ASX:STO) and Oil Search (ASX:OSH), both of which hold stakes in PNG LNG.
Bilfinger UK and Bilfinger Salamis to merge to create £346m business
Bilfinger UK and Bilfinger Salamis have announced plans to merge to create a new £346 million turnover engineering and maintenance business.
BHP decommissioning bill pegged at $3.9bn
BHP Group will transfer some $3.9 billion worth of oil and gas decommissioning liabilities to Woodside if the pair’s merger goes through successfully. The liability is much smaller than expected helping to ease investor concerns at Woodside.
PNG scrutinises Santos-Oil Search merger
The government of Papua New Guinea (PNG) has raised concerns that Santos’ proposed $15.5 billion merger with Oil Search could harm national interests in the liquefied natural gas (LNG) exporting country.
Santos and Oil Search edge closer to $15.5 billion merger
Santos and Oil Search have agreed a merger deal that will create a A$21 billion ($15.5 billion) Asian oil and gas producer, confirming terms agreed on last month.
‘A merger of almost equals’: Jefferies on reported Harbour – Neptune plans
A merger of Neptune and Harbour Energy would create a company with market capitalisation of $10bn - $11bn, according to new analysis from Jefferies.
Medco raising cash with eye on ConocoPhillips’ Corridor Block
Medco Energi, an ambitious Indonesian independent oil and gas company, is preparing to raise capital that will help fund acquisitions. Significantly, Medco Energi is reportedly keen to bid for ConocoPhillips’ share of the giant onshore Corridor gas block in Indonesia estimated to be worth more than $1.5 billion.
Oil Search and Santos extend timeline on due diligence for merger
Potential merger partners Santos and Oil Search have extended their mutual period of due diligence for the $16 billion deal by one week to 13 September.