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merger

Asia

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.

Asia

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.

Asia

Struggling Sembcorp Marine to raise $1.1 billion

Singapore offshore and marine giant Sembcorp Marine will raise S$1.5 billion (US$1.1 billion) in funds from a rights issue to support the company’s operations. The rig builder has been struggling with rising costs and delays to projects being built at its yards.

Asia

Woodside and BHP confirm oil mega-merger

Woodside and BHP today confirmed a mega-merger deal that will establish one of the world’s top independent oil and gas companies. Woodside said it would issue new shares to BHP shareholders in exchange for the mining giant’s petroleum business.

Asia

Woodside-BHP $14.7bn merger deal would create a ‘super independent’

Woodside today confirmed it is in discussions with BHP over a potential merger involving BHP’s entire petroleum business. This merger “would create a new international super independent built for scale and resilience, with a long-term focus on LNG but exposure in the medium term to high-margin, deepwater oil,” said Andrew Harwood, Asia Pacific research director at Wood Mackenzie.

Asia

Oil Search rejects $16bn merger approach from Santos

Australia’s Santos said today that it approached compatriot Oil Search about a potential merger last month. However, the offer to create an energy company with a market value of $16.1 billion was rejected by Oil Search, which has major stakes in Papua New Guinea’s (PNG’s) emerging liquefied natural gas (LNG) sector.