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mergers and acquisitions

Opinion

Opinion: Private players still finding it difficult to get deals done

2017 was the third full year of the most protracted downturn in the global oil and gas industry but was generally considered to be no worse than the previous two.  Despite initial optimism at the beginning of the year, the industry remained flat with operators keeping a tight rein on spending notwithstanding a steady increase in commodity prices throughout the year.

Oil & Gas

Californian energy firms agree to multi-million dollar merger

A Californian energy firm has provisionally agreed to take over a rival in a $41.5million (£31.6million) transaction, according to media reports. Bosses at Royale Energy said they expected the deal for Matrix Oil Corporation to go through before the end of 2016, subject to approval from regulators and shareholders. Royale is an independent exploration and production company with its main operations in the Sacramento and San Joaquin basins in California.

Oil & Gas

Amplus safeguards more than 40 north-east jobs with takeover of survey firm

An Aberdeen firm revealed yesterday it had safeguarded more than 40 north-east jobs after buying a survey company that was part of bankruptcy-hit Harkand Group. Amplus Energy, a floating production service firm, said all 42 employees from Andrews Survey would transfer to its base in Bridge of Don next month on the back of a multi-million pound deal. Andrews, which provides survey and positioning services to the offshore oil and gas and renewables markets, will keep its name and operate under its existing management team as part of Amplus Group.

Oil & Gas

Offshore cabin and container firm OEG targets new markets after rival takeover

An Aberdeen-based offshore cabin and container firm said yesterday it had snapped up a rival, paving the way for its expansion into Norway, Congo and Myanmar. The acquisition of Singapore-headquartered AOR Containers from Buss Global Group raises OEG Offshore’s global headcount to 160 from 140. It also adds 6,000 containers to the existing fleet of 19,000 at OEG, which was created in 2010 following a merger between Continental Offshore and Vertec Engineering.