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.
Following Santos' proposed takeover offer for Oil Search, which has major stakes in Papua New Guinea’s emerging LNG sector, a bidding war could emerge. Likely acquirers include ExxonMobil and TotalEnergies, both of which have big shares in the PNG projects.
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.
Singaporean rig builders Keppel Corporation and Sembcorp Marine this morning requested a halt in the trading of their shares pending announcements.
The merger of Cabot Oil & Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification.
A Scottish court has given the green light to the merger of UK operators Chrysaor and Premier Oil.
Chrysaor and Premier Oil have issued their last sets of separate financial results ahead of completing their merger at the end of the month.
Premier Oil and Chrysaor have held preliminary talks about a potential deal that would bring together two of the largest UK oil and gas producers, according to people with knowledge of the matter.
Two offshore accommodation vessel contractors have thrown in the towel on their plans to join forces after running into opposition from monopoly watchdogs.
Transocean’s $3.4billion acquisition of rival offshore drilling contractor Songa Offshore is a great deal for the takeover target’s shareholders, an analyst has said.
Industrial services provider Altrad said today that it had struck a takeover deal for Cape.