Ophir Energy Plc’s takeover by Medco Energi Internasional Tbk could be blocked by a contingent of the U.K. company’s shareholders who want a higher offer, according to some of the investors.
Ophir Energy has agreed to a takeover by Indonesia's Medco in a deal that values the London-listed company at £390 million.
Oil services firm Schlumberger has pulled out of a joint venture to develop a major liquefied natural gas (LNG) project in Equatorial Guinea.
Ophir Energy has clinched a farm-out agreement with Kosmos Energy covering the EG-24 exploration licence in Equatorial Guinea.
Ophir Energy said today that its efforts to find alternative funding sources for its Fortuna FLNG project off Equatorial Guinea were at an advanced stage.
Octanex has started drilling at its Ophir 1 development well.
British oil and gas explorer Ophir Energy is to seek $1.2billion in Chinese loans to bankroll its Fortuna floating liquefied natural gas (FLNG) export project in Equatorial Guinea, according to chief executive Nick Cooper.
Ophir Energy has ended talks with Schlumberger over the company's upstream participation in its Fortuna project in Equatorial Guinea.
Ophir Energy has signed a heads of agreements for LNG offtake from the Fortuna FLNG project off Equatorial Guinea.
Ophir Energy said it is in the process of signing off on its long-term agreements for its Fortuna FLNG (Floating Liquefied Natural Gas) project off Equatorial Guinea. The company will be working with a shortlisted group of counterparts all of which are globally established LNG buyers. The offtake contracts offer flexibility to competitively deliver the gas into either the Atlantic or Pacific Basin and Ophir said they had been met with strong interest from LNG buyers.
Ophir Energy said it has launched its two-well exploration programme in Thailand after spudding of the first wildcat. The company said it had spudded the G4/50-10 exploration well on the Soy Siam prospect in the western Gulf of Thailand. The block partly surrounds Ophir's producing Bualuang oil field and spans a series of Tertiary aged sub-basins in the region.
Ophir Energy has awarded two contractor consortia contracts for its Fortuna FLNG project in Equatorial Guinea. The agreements, for Upstream Front End Engineering and Design (FEED), were given to McDermott Marine Construction and GE Oil & Gas and Subsea 7 and Aker Solutions. The move comes in the same week the company revealed it would be reduce its headcount and closing offices in a $60million savings bid.
Ophir Energy will close almost half of its offices and reduce its headcount as it looks to streamline costs following its acquisition of Salamander Energy earlier this year. The move was made as chief executive Nick Cooper admitted the company faced a “tough time” in the commodity cycle. However the company’s head insisted Ophir continued to have a strong balance sheet despite the changes.
Ophir Energy has signed a production sharing contract with the Myanmar Ministry of Energy. The move finalises the award of Block AD-03 offshore Myanmar, which the company has a 95% interest in.
Ophir Energy said its board of directors has reached an agreement with Salamander Energy in its takeover bid. The transaction for the entire share capital of Salamander Energy means shareholders will be entitled to 0.5719 of new Ophir shares.
Ophir Energy has made an indicative offer to acquire Salamander Energy, the companies have said in a joint statement. The company is making an offer of 0.5719 of its own shares for each Salamander share. Both Ophir Energy and Salamander said there was “compelling strategic logic” for the move, that will leave the pair with a strong portfolio of operations across Africa and South East Asia.
Ophir Energy has struck a deal with Niko Resources to acquire interests in seven deepwater Production Sharing Contracts (PSCs) in Indonesia. The $31.3million deal means six of the PSCs will be operated by the company, with further payments depending on exploration success.
Oil and gas explorer Ophir Energy has signed two further production sharing contracts for blocks in Gabon. The new blocks, A3 and A4, are located near to Ophir’s existing acreage in the North Gabon basin.