Kosmos Energy acquires additional interest in Jubilee field and Tano block for $365M

By on February 29, 2012 in Announced Deals

Kosmos Energy has exercised a right under the existing Joint Operating Agreement to acquire the participating interest of Sabre Oil & Gas Holdings Ltd in the Deepwater Tano block, offshore Ghana for $365 million, with up to an additional $45 million contingent upon achieving certain performance milestones. Kosmos’ interest will increase from 18% to 22.05% [...]

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International Petroleum acquires Vamaro Investments for $18M

By on February 29, 2012 in Announced Deals

International Petroleum Ltd has acquired Vamaro Investments Ltd for $3 million in cash and 55 million newly-issued shares valued at $9.687 million (at $0.176 per share on 9-Aug-2011). The company will also assume certain liabilities of Vamaro, including $1 million payable by 9-Nov-2011 and a further $4 million payable by 27-Dec-2011. The aggregate deal value [...]

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Whitecap Resources acquires Midway Energy for $550M

By on February 29, 2012 in Announced Deals

Whitecap Resources Inc and Midway Energy Ltd have entered into an arrangement agreement, whereby Whitecap will acquire all the issued and outstanding shares of Midway for approximately C$550.3 million (US$549.876 million). Midway is a light oil weighted public company with its primary operations located in the Garrington area of Alberta where the majority of its [...]

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ONGC and GAIL plan $2 billion bid for Cove

By on February 29, 2012 in Announced Deals

ONGC Videsh Ltd (OVL), the overseas investment arm of Indian oil producer ONGC and gas distribution company GAIL India Ltd plan to offer $2 billion to acquire UK-based Cove Energy Plc. This planned offer intends to beat the $1.76 billion bid by Thai state-controlled oil and gas group PTT and $1.6 billion bid by Royal Dutch Shell [...]

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Wapiti acquires Utah assets from Gasco for $36M

By on February 28, 2012 in Announced Deals

Wapiti Oil & Gas II LLC has signed an agreement with Gasco Energy Inc to acquire 50% interest in Gasco’s producing and non-producing assets in Uinta basin, Utah. Effective 1-Sep-2011, the transaction is expected to close in Mar-2012, subject to necessary approvals. Transaction highlights: Gasco will transfer to Wapiti an undivided 50% interest in its [...]

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Rosetta Resources sells certain South Texas assets for $95M

By on February 28, 2012 in Announced Deals

Rosetta Resources Inc has entered into a purchase and sale agreement to sell interest in its Lobo assets and a portion of its Olmos assets in South Texas for $95 million. The assets hold 11 MMBOE of Proved Reserves and currently produces 3.3 MBOE/d. The transaction is expected to close in H1-2012, subject to necessary [...]

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Linn Energy acquires BP’s Kansas assets for $1.2B

By on February 28, 2012 in Announced Deals

Linn Energy LLC has signed a definitive purchase agreement to acquire Hugoton basin properties located in Kansas from BP for $1.2 billion. The acquisition is expected to close before 30-Mar-2012. RBC Richardson Barr, Barclays Capital and BMO Capital Markets have acted as advisors to Linn Energy. Asset highlights: Production of approximately 110 MMcf/d (98% operated, [...]

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Global Petroleum puts Eagle Ford interests up for sale

By on February 28, 2012 in Deals in Play

Global Petroleum Limited has engaged Albrecht & Associates and RBS Morgans Limited to seek potential buyers for the company’s interest in the Eagle Ford production wells and related leases which form part of the Leighton Project. This announcement follows a similar move by operator Texon Petroleum, who hired the Albrecht & Associates Inc and RBS [...]

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MEO Australia acquires 50% interest in Thailand block

By on February 27, 2012 in Announced Deals

MEO Australia Ltd has signed a farm-in agreement with Pearl Oil Offshore Ltd to acquire 50% PI in the Block G2/48 in Gulf of Thailand. Consideration for the farm-in comprises MEO reimbursing 50% of the costs of the 450 sq km 3D seismic survey acquired in Q4-2011, and paying 66.6% of the 2012 commitment well [...]

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U.S. Oil and Gas acquires additional leases in Hot Creek Valley, Nevada

By on February 27, 2012 in Announced Deals

U.S. Oil and Gas Plc, the oil and gas exploration company with its main asset in Nevada, has acquired additional lease acreage in Hot Creek Valley. Through its wholly owned subsidiary, Major Oil International LLC, the company has leased two new lots, totaling 5,000 acres and contiguous with existing acreage, from the Nevada Bureau of [...]

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