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.
The deadline for a transformative yard merger deal in Singapore between Keppel Corporation and Sembcorp Marine is just days away.
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.
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.
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 (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.
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.
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.
The merger of Noble Corporation and Maersk Drilling will create the third largest offshore drilling company by fleet size in the world.
Maersk Drilling and Noble Corporation have announced a merger between the two offshore drilling companies.
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 have announced plans to merge to create a new £346 million turnover engineering and maintenance business.
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.
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 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 Neptune and Harbour Energy would create a company with market capitalisation of $10bn - $11bn, according to new analysis from Jefferies.
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.
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.
The Babcock oil and gas helicopter operation in Aberdeen is to be renamed while the competition watchdog mulls a takeover by rival CHC.
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.
A strategic merger between BHP and Woodside has been on the deal dream list in oil and gas circles going back three decades. Yesterday the pair confirmed that they will enter into a merger of their respective oil and gas portfolios in an all-stock deal that creates an LNG powerhouse.
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.
Santos chief executive Kevin Gallagher said today that a binding merger deed with Oil Search should be signed next month. The merger would make the combined companies one of the largest in the region and in the top 20 globally.
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.
Woodside is in advanced talks to buy BHP Group’s petroleum division for about A$20 billion ($14.7 billion), the Australian Financial Review (AFR) reported on Sunday, citing people familiar with the matter.