Malaysia’s DNeX eyes more North Sea M&A as Ping deal nears finishing line
Malaysian IT and energy sector service provider Dagang Nexchange (DNeX) is closing in on a deal to increase its stake in North Sea minnow Ping Petroleum to 90%.
mergers and acquisitions
Gneiss Energy celebrates five-year anniversary with conclusion of 10th transaction of 2021
Gneiss Energy (“Gneiss”) celebrates its five-year anniversary hot off the heels of announcing its 10th transaction of 2021, representing a productive start to 2021 for the advisory firm across all of its sector teams.
Pinsent Masons appoints prolific dealmaker to top oil and gas role
Law firm Pinsent Masons has appointed renowned dealmaker Rosalie Chadwick as its new global head of oil and gas.
Tackling the information and systems challenges of acquisitions
Asset transfers can be complex from an information and technology perspective but can be the springboard for innovation, as well as delivering the expected productivity. The critical path is for the transfer of services agreement, safety case, readiness and transition of operations. This article highlights the types of transfer, the issues we face and Sword’s tried and tested approach to dealing with them.
North Sea M&A: Dealing with the ‘what ifs’ key to a smooth transaction
At the start of the new tax year, we explore the financial landscape of the energy sector.
Low-carbon deals fuel the energy M&A market
As governments and corporates set ambitious targets to decarbonise, investment in low-carbon technology is becoming increasingly attractive as a core investment strategy. “Low carbon” comprises technologies that enable the energy transition.
Longboat taking part in a number of North Sea acquisition processes
Bosses at Longboat Energy are “participating” in a number of acquisition processes as the London-listed firm looks to do its maiden deal.
Expro and Frank’s merger unlikely to lead to ‘significant’ changes in Aberdeen
Expro’s chief executive says he doesn’t anticipate its amalgamation with Frank’s International to lead to any “significant headcount changes” in Aberdeen.
Ocean Ecology and Åkerblå team up to target Norwegian offshore wind industry
Norwegian environmental and technical consultancy group Åkerblå Group has acquired a majority share in Ocean Ecology, a UK based survey specialist.
2020: ‘A year of two halves’
Corporate and commercial lawyer Rod Hutchison has described 2020 as “a year of two halves” in terms of deal-making.
IOCs eye $12 billion worth of mergers and acquisition deals in the Asia Pacific region
Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
Experts lift lid on prospects for M&A at breakfast event
The past year may have been a relatively lean spell for mergers and acquisitions (M&A) in the region but what are the prospects for the market in 2021?
Huge year for establishing UK oil industry’s net-zero credentials, experts say
Experts from EY, Wood Mackenzie and NorthStone Advisers say setting renewable energy targets will be high on oil and gas firms' agendas.
EnQuest to buy Suncor’s North Sea Golden Eagle stakes for £240m
EnQuest has struck a deal to buy Canadian firm Suncor's 26.69% stake in the Golden Eagle area of the UK North Sea for £240 million.
Exxon, Chevron discussed possible merger in 2020, report says
Exxon Mobil and Chevron discussed a possible merger last year as the coronavirus pandemic pummeled the industry and put extreme financial pressure on the two largest U.S. oil giants, according to a report in The Wall Street Journal.
DNV GL to combine oil & gas and renewables operations
DNV GL has announced plans to combine its current oil and gas and power and renewables wings to create one new business area.
EV-tech company Proterra to go public through ArcLight SPAC
Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp.
Simmons boss says 2021 shaping up to be exciting period for M&A
This year is shaping up to be an exciting period for mergers and acquisitions (M&As) in the oil and gas industry, according to Aberdeen-based energy finance expert Mike Beveridge.
Diamondback Energy to acquire QEP Resources for $2.2 billion
Diamondback Energy is planning a pair of acquisitions worth more than $3 billion that would strengthen its position in the Midland Basin of West Texas.
Exploration drilling activity expected to recover in 2021, says Westwood Global
Offshore drilling activity on the UK Continental Shelf (UKCS) is expected to recover in 2021 with a dozen potential exploration wells identified.
Managing decommissioning risk in M&A transactions
With $14 billion of commitments before 2024, according to Rystad, decommissioning costs have long been a risk to and blocker in transactions, especially portfolio and corporate deals. The sector has moved a long way since early stage bilateral decommissioning agreements as sellers sought to navigate Section 29 of the Energy Act 2008 and other commercial risks in pursuit of the “clean break”.
HitecVision ’emerging as frontrunner’ to buy ExxonMobil UK North Sea assets
HitecVision AS is emerging as the frontrunner to acquire Exxon Mobil Corp.’s oil assets in the U.K. North Sea, according to people familiar with the matter.
AqualisBraemar to snap up fellow consultancy LOC Group for £15m
Oslo-listed offshore energy sector consultancy firm AqualisBraemar has stuck a deal to buy LOC Group for £15.2 million.
Assessing energy merger and acquisition opportunities in a time of pandemic
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
EnQuest, Sinopec ‘among bidders’ for ExxonMobil UK North Sea oil and gas fields
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.