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NEO Energy officially takes over Total's UK North Sea fields
Aug. 5, 2020

NEO Energy officially takes over Total's UK North Sea fields

Norway-based private equity company HitecVision-backed NEO Energy has completed the acquisition of UK North Sea assets from Total Oil UK and Total E&P North Sea UK. The acquisition included a portfolio of operated and non-operated assets. The transaction comprises a material and cash generative portfolio of assets in four producing areas of the UK North Sea. It adds production of approximately 23,000 boepd and reserves of 51 MMboe to Neo Energy’s portfolio.

Total agrees deal to sell Lindsey refinery
July 28, 2020
Source: Reuters

Total agrees deal to sell Lindsey refinery

Total has agreed to sell its Lindsey refinery in Lincolnshire, northeast England, to Prax Group. The refinery has an annual production capacity of 5.4 million tons. Since the sale of the British retail network in 2011, the Lindsey refinery hasn’t been part of Total’s downstream system. It is expected to be put to better use within the Prax Group, an independent player with a growing UK network.

ConocoPhillips buys Canadian land from Kelt in $375 million deal
July 23, 2020
Source: Reuters

ConocoPhillips buys Canadian land from Kelt in $375 million deal

U.S. oil major ConocoPhillips said on Wednesday that it agreed to buy land from Kelt Exploration Ltd in Canada’s Montney shale oil play, in a $375 million deal. The deal allows ConocoPhillips to extend its existing position at an attractive cost. It comes three years after Houston-based ConocoPhillips sold much of its Canadian assets to Cenovus Energy, part of a multi-year withdrawal of foreign producers from Canada.

Chevron acquires Noble Energy in a $5 billion deal
July 22, 2020
Source: Reuters

Chevron acquires Noble Energy in a $5 billion deal

Chevron Corp’s surprise $5 for oil producer Noble Energy should spell this year’s deal drought, setting a benchmark that will trigger more buys. The COVID-19 pandemic destroyed fuel demand and left dozens of energy companies without the prospect of drilling their way out of debt. They may now be more willing to entertain deals with the Chevron offer as a standard. Chevron agreed to pay $5 a barrel for Noble’s proved reserves.

Oil major, bp concludes the sale of Alaskan producing assets to Hilcorp Energy
July 2, 2020
Source: Reuters

Oil major, bp concludes the sale of Alaskan producing assets to Hilcorp Energy

Oil supermajor, bp Plc has informed about concluding the sale of its Prudhoe Bay oil and gas producing assets to Hilcorp Energy, ending a 60-year streak of being the top Alaskan oil producer. The $5.6 billion deal, which also includes bp’s stake in the Trans Alaska Pipeline System, is estimated to wrap up this quarter, both companies said in statements.

Connector Subsea Solutions announces acquisition of Isotek Oil & Gas Limited
June 10, 2020

Connector Subsea Solutions announces acquisition of Isotek Oil & Gas Limited

Connector Subsea Solutions has completed the acquisition of Isotek Oil and Gas Limited. The acquisition adds Isotek’s remote welding technology to CSS’s existing range of subsea pipeline repair capabilities. The Isotek workforce which numbers 15 people is transferring over to CSS with immediate effect. Remote subsea welding is seen as a key link into future operational scenarios for tie-ins, repair, hot-tapping, and in particular, larger diameter pipeline applications.

ConocoPhillips sells West Australian business to Santos for nearly $1.4B
May 29, 2020
Source: World Oil

ConocoPhillips sells West Australian business to Santos for nearly $1.4B

ConocoPhillips has completed the sale of its west-Australian business to Santos for $1.39 billion, a major boost to the company’s balance sheet during the economic downturn. The Houston oil major, which announced the sale in October, has received about $765 million in proceeds from the sale during the second quarter. The proceeds are expected to be used for “general corporate purposes,” the company said Wednesday.

Qatar Petroleum enters a farm-in deal with Total
May 20, 2020

Qatar Petroleum enters a farm-in deal with Total

Qatar Petroleum has entered into a 'farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Cote d'Ivoire. The two blocks cover an area of approximately 3,200 square kilometres, and present multi-target hydrocarbon prospects in water depths ranging from 1,000 to 2,000 metres, 35 kilometres from shore and about 100 kilometres from nearby Foxtrot, Espoir and Baobab fields.

Total backs out of buying Occidental's assets
May 19, 2020
Source: Reuters

Total backs out of buying Occidental's assets

Total will no longer pursue the acquisition of Occidental’s assets in Ghana, following a snag in the sale of assets in Algeria. When Occidental Petroleum completed one of the largest oil mergers and acquisitions of the past few years, buying Anadarko Petroleum and assuming its debt in a transaction valued at a total of US$55 billion, Occidental had signed a binding agreement to sell Anadarko’s assets.

Intrepid acquires Gyrodata's directional drilling business
May 1, 2020
Source: Reuters

Intrepid acquires Gyrodata's directional drilling business

U.S. oilfield firm, Intrepid Directional Drilling Specialists has bought out the directional drilling business of well survey firm Gyrodata. With the deal, Intrepid is aiming to expand operations as service companies vie for business amid a steep decline in the activity. The acquisition deal whose amount remained undisclosed, will double the size of Intrepid's directional drilling division and will expand Intrepid's presence in U.S. shale fields and in Latin America.

Sonangol opens up tender to sell stakes in private firms
April 25, 2020
Source: Reuters

Sonangol opens up tender to sell stakes in private firms

Sonangol yesterday informed about opening up a public tender to sell out its stakes in some private firms. The move comes as Angola's government looks to privatize key state assets by 2022. It will divest 30% interest in Petromar, Sonadiets Ltd and Sonadiets Services SA, 51% in Sonatide Marine Ltd and Sonatide Marine Angola Ltd and 40% in Sonamet Industrial SA and Sonacergy Services and Construction Petroleum Ltd.

Total to acquire Tullow Oil's stake in Uganda project
April 24, 2020
Source: Reuters

Total to acquire Tullow Oil's stake in Uganda project

French oil supermajor, Total has agreed to purchase Tullow Oil’s full stake in jointly-held onshore oil fields in Uganda for $575 million. Tullow Oil yesterday informed that it is looking to raise $1 billion this year in a bid to diminish its $2.8 billion of debt. The deal is now subject to the two companies inking a final tax agreement with the Ugandan authorities and a go-ahead from Tullow’s shareholders.

GP Global acquires Nigerian assets of Grand Petroleum
April 15, 2020

GP Global acquires Nigerian assets of Grand Petroleum

Leading energy-to-agriculture conglomerate, GP Global today announced about acquiring the lubricant assets of Grand Petroleum in Nigeria. The acquisition comes as GP Global looks to expand and enforce its presence in the African nation and the western part of the continent. "With this acquisition, we aim to grow our business of oil and agricultural products as well as build a strong retail network in Africa," said COO for Nigeria, GP Global.

Total sells asset in Brunei, Sierra Leone, Liberia
April 7, 2020
Source: Reuters

Total sells asset in Brunei, Sierra Leone, Liberia

Oil supermajor, Total today informed about selling assets in Brunei, Sierra Leone and Liberia, valued at more than $400 million. While Total's wholly-owned subsidiary in Brunei, Total E&P Deep Offshore Borneo BV was soled to Shell, its marketing and services businesses in Liberia and Sierra Leone was sold off to Conex Oil & Gas Holdings Ltd.

GOI invites preliminary bids for selling its stakes in BPCL
March 7, 2020

GOI invites preliminary bids for selling its stakes in BPCL

The Government of India, today, finally invited preliminary bids for the sales of its entire 52.98% stakes in India's second-biggest oil refiner, BPCL. The bidders will have to submit an Expression of interest (EOI) by May 2, according to the bid document by the DIPAM. BPCL's stake in Numaligarh Refinery Limited, however, has been excluded from the sale and will be sold only to a state-owned oil and gas firm.

IDEX buys out Flow Management Devices LLC
Feb. 12, 2020
Source: World Oil

IDEX buys out Flow Management Devices LLC

Illinois-based IDEX Corporation has inked a definitive agreement to purchase the flow measurement system provider, Flow Management Devices, LLC (Flow MD) for cash consideration of $125 million. Flow MD’s calibration products have been saving on enormous payment discrepancies for customers where slight inaccuracies in flowmeter measurements at transfer points. Flow MD made an annual sales of ~$60 million last year, and will join IDEX’s energy group.

Trelleborg acquires Signum
Jan. 16, 2020

Trelleborg acquires Signum

Engineered polymer solutions provider, Trelleborg has concluded the acquisition of Signum Technology Ltd and its subsidiary companies Gall Thomson, KLAW LNG, KLAW Products, and Vee Bee Filtration. The acquisition move will add Signum's safety-critical solutions, including Marine Breakaway Couplings (MBCs) and safety solutions for LNG transfer systems, to Trelleborg’s product portfolio. Signum's acquisition is in line with Trelleborg’s strategy to fortify its position as a system provider.

Stress Engineering acquires Laserstream
Jan. 14, 2020
Source: World Oil

Stress Engineering acquires Laserstream

Houston-based Stress Engineering Services has purchased Texas-based Laserstream, a company specializing in laser mapping of tubular assets. The acquisition will gain Stress Engineering the ownership to high-resolution pipe ID scanning hardware and imaging software while enhancing its competencies within upstream, midstream, downstream, aerospace, consumer and medical services. With the acquisition, SES will be able to capitalize on Laserstream’s state-of-the-art equipment, to combine with its laboratories and service offerings.

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