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Verus’ $400 million acquisition
Sept. 21, 2018
Source: World Oil

Verus’ $400 million acquisition

Verus Petroleum of UK has announced an acquisition of Cieco Exploration & Production (UK) Limited, a subsidiary of ITOCHU Corporation. Verus has signed a $400 million Sale & Purchase Agreement (SPA) for this procurement. This acquisition will add 11,000 boed to the daily production capacity of Verus, but will not involve the transfer of any personnel.

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