Golar LNG said it has entered into a purchase agreement to sell the Golar Tundra for $330million.
Kuwait Petroleum Corp (KPC) said it plans to sell loss-making assets to cut costs as low oil prices pressure its finances.
Petroceltic said it was considering a number of options for the company’s future including the sale of some or all of its assets. The board said options being considered include a farm-out or sale of one or more the company’s existing assets, a merger with a third part, or the sale of its entire issued share capital in the form of debt or subscription of new ordinary shares.
The chief executive of Cheniere Energy plans to cash in on 50,000 shares in the company, according to a recent regulatory filing. The Securities and Exchange Commission (SEC) filing shows Charif Souki holds around 3.4million shares in the firm.
National Grid Plc, the operator of UK’s electricity and natural gas networks, started a process for the potential sale of a majority stake in its domestic gas distribution business.
Oil giant Shell has completed the sale of Smart Fuel to St1 Nordic Oy of some of its downstream businesses in Norway. The company said it would still continue to remain highly visible in the country, despite the deal for its retail, commercial fuels and supply and distribution logistics businesses. Shell and St1 have also joined forced to create Aviation Fuelling Services Norway AS, a joint venture to sell aviation fuel in Norway.
Penn Virginia has signed a deal to sell assets in Texas for $75million. The company would not disclose the buyer but said the sale would close by the end of next month.
Oil major Shell has completed the sale of its stake in a Nigerian oil field for $737million. The company is nearing the completion of a strategic asset review in the West African country.
Premier Oil has completed transactions in two of its asset sales worth a combined $147.5million. The company previously revealed it would be selling off its non-operated interests in the producing Scott, Telford and Rochelle fields to MOL Group for $130million before interim period adjustments.
GMS (Gulf Marine Services) has won its first contract award for one of its mid-size vessels. The GMS Shamal will be chartered by national oil company in the MENA region. The company said the contract is for five years, which includes a two years firm option, with a further three one-year options.
Total has entered into an agreement for the sale of its remaining stake in GTT (Gaztransport and Technigaz) to Temasek. The sale, which was netted the French company more than $650million, follows an initial transaction in February this year. The company said it initially reduced its shareholding from 30% to 10.4%.
Oilex has been endorsed by the Indian government for the sales from the Bhandut-3 well in the Bhundut field. The company said the backing was a "critical milestone" for the field's production. The project will now gather the appropriate production facilities including a compressed natural gas (CNG) loading facility that will enable "bullet" trucks to be loaded for transportation on site.
Pan Orient Energy has sold a 50% interest in its subsidiary which operates its L53/48 Thailand concession to Sea Oil for $42.5million including a working capital adjustments of $2.4million. The deal is expected to be closed by January, with a $4million break free payable by Sea Oil if shareholder approval is not obtained.
Penn West Petroleum has signed an agreement to sell a number of its non-core assets in Canada for $355million to a private company. The assets in south central Alberta are currently producing around 7,500BOE (Barrels of Oil Equivalent) per day.
US-based Midstates Petroleum Company has sold assets in the Gulf Coast worth $90 million to a private buyer, the company has announced. It has sold its Dequincy assets, which includes the 20 mile El Grande pipeline which the company constructed and owned.