Woodside to Sell Stake in Pluto and Browse LNG Projects

By on January 27, 2012 in Deals in Play

Woodside Petroleum Ltd is considering selling some of its interest in its Browse and Pluto liquefied natural gas ventures. Pluto LNG overview: Pluto LNG includes the development of the Pluto and Xena gas fields, located in the Carnarvon basin north-west of Karratha and which cover 42,191 gross acres (36,958 net acres) in water depths of [...]

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Has EnQuest paid a Premium for its North Sea Acquisition?

By on January 27, 2012 in Announced Deals

On Jan 24, 2011, EnQuest Plc signed an agreement with Nautical Petroleum Plc to acquire 25% interest in Blocks 9/2b and 9/2c which includes the Kraken heavy oil discovery, UK North Sea. The amount payable ranges between $150 million and $240 million as a development carry cost. It is dependent on the future determination of [...]

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AWE acquires two PSCs offshore Indonesia for $139 million

By on January 27, 2012 in Announced Deals

AWE Ltd has executed a Sale and Purchase Agreement with a subsidiary of Genting Berhad, whereby, a wholly owned subsidiary of AWE will acquire 100% interest and operatorship of two PSCs offshore Indonesia, for $139 million. Valuation: Derrick believes the value of exploration assets involved in this transaction is insignificant. Hence, the entire deal value [...]

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More than $3 Billion worth North Sea E&P Assets for Sale

By on January 27, 2012 in Deals in Play

There are 33 E&P assets for sale recorded in Derrick’s deals in play database as on Jan 27, 2012 in the North Sea. Most assets for sale are in the UK North Sea (24) followed by four Offshore Ireland, three Offshore Denmark and two Offshore Norway. Some of the prominent UK-based sellers include BP, San [...]

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Range Resources and Leni Gas & Oil to jointly develop Trinidad fields

By on January 26, 2012 in Announced Deals

Leni Gas & Oil plc (LGO) and Range Resources Ltd have signed Heads of Agreement to jointly develop their interests in the Goudron and Beach Marcelle fields, Trinidad. Terms of the agreement: Under the terms of the agreement, Range and LGO have agreed that, subject inter alia to full legal and technical due diligence: Range [...]

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Quetzal Energy Divests Guatemala Assets

By on January 26, 2012 in Announced Deals

In May-2011, Quetzal Energy Ltd proposed a plan to spin-off its Guatemala assets. The spin-off did not go through due to the lack of shareholders support. Since then, Quetzal’s management was reviewing strategic alternatives for its Guatemala assets. Today, Quetzal entered into a definitive agreement with SGS Acquisition Company Ltd to sell its Guatemalan operations. [...]

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Wild Stream Sells Saskatchewan Property for $162 million

By on January 26, 2012 in Announced Deals

Wild Stream Exploration Inc has sold its assets in the Dodsland area of Southwest Saskatchewan to a new junior exploration company (Newco) for C$163.9 million (US$162.07 million). Concurrently, Crescent acquired 2.65 million shares in Newco. Highlights: Production – 1,000 Bbl/d; As of 31-Dec-2011, Proved plus Probable Reserves – 5,439 Mbbl; 57,000 Net undeveloped acres prospective [...]

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Crescent Point Acquires Wild Stream for $604 million

By on January 26, 2012 in Announced Deals

Crescent Point Energy Corp has entered into an agreement with Wild Stream Exploration Inc to acquire all of the issued and outstanding shares of Wild Stream for C$610.9 million (US$604.08 million). Concurrently, some of Wild Stream’s assets are transferred to a new company (Newco), in which Crescent will hold 2.65 million shares. Highlights: More than [...]

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Afren’s growth engines: Nigeria and Kurdistan

By on January 26, 2012 in Uncategorized

Afren‘s recent operational report states that its exit production rate stood at 53,200 BOE/d at the end of 2011, while the 2011 average output reached 19,200 BOE/d. The increase in production in 2011 came as the group’s contingent and proved and probable resources jumped 650% to 1.03 billion barrels during the year. Afren’s production this [...]

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Acquisition options in Africa for Victoria Oil & Gas

By on January 26, 2012 in Uncategorized

In their recent investor presentation, Victoria Oil & Gas, a UK listed, oil & gas E&P Company has listed its strategic objectives as follows: Become a mid-size E&P player through organic growth and acquisition by 2015 Focus on core areas of West Africa (from their base in Cameroon) and the FSU - Former Soviet Union Build on [...]

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