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June 1 - Independent oil company Karoon Energy announced the completion of the transition of operations of the Baúna FPSO (formerly called Cidade de Itajaí). To recap, the platform was acquired from Altera & Ocyan (A&O) in April of last year for US$115 million plus approximately US$8 million in transaction costs. Since then, the two... Continue Reading →
June 1 (oilnow.gy) ExxonMobil says more technical work is needed to determine whether the Ranger discovery in Guyana’s Stabroek Block can be developed. Neil Chapman, Senior Vice President of ExxonMobil, discussed the discovery during the Bernstein 42nd Annual Strategic Decisions Conference on May 28. Chapman said Ranger is different from the discoveries that have supported... Continue Reading →
June 1 (OE) Vantage Drilling has entered into a merger agreement under which Norway-based Eldorado Drilling will acquire the offshore drilling contractor in a transaction valuing the company's equity at approximately $257.6 million. Under the agreement, Vantage shareholders will receive $19.00 per share in cash. The transaction has been unanimously approved by Vantage's board of... Continue Reading →
Brazil Energy Insight 