Brought to you by Quest Offshore & Southern Cone Consultants
McDermott International has received offers to sell its Lummus Technology business. The oilfield services company said the valuation of the tech business exceeded $2.5 billion. “Based on the receipt of these approaches, McDermott is exploring strategic alternatives to unlock the value of Lummus Technology while maintaining the strategic rationale of engineering, procurement and construction (EPC)... Continue Reading →
September 18, 2019 Petróleo Brasileiro S.A. - Petrobras informs that today the Administrative Board of Tax Appeals (CARF) issued a favorable decision on a tax administrative process regarding the moment of the deduction of expenses incurred by Petrobras with oil and gas production development, for purposes of Corporate Income Tax (IRPJ) and the Social Contribution... Continue Reading →
The UK Competition and Markets Authority will refer the proposed merger between Prosafe and Floatel to Phase 2, after the first phase raised competition concerns. The proposed combination would create the world’s largest owner of semi-submersible accommodation rigs. The UK CMA said that – after completing its initial Phase 1 investigation – it was concerned... Continue Reading →
Baker Hughes, a GE company announced today the closing of a secondary offering of 132.25 million shares of BHGE Class A common stock, par value $0.0001 per share at a price to the public of $21.50 per share. This closing includes the underwriters’ exercise of their option in full, purchasing an additional 17.25 million shares... Continue Reading →
Sept 16, 2019 Senior vice president and chief financial officer (CFO) of offshore drilling contractor Noble Corporation has resigned from the company. Noble Corporation said last Friday that its SVP and CFO Adam C. Peakes resigned effective September 9, 2019. The company added that a search for Peakes’ replacement has already begun. In the interim,... Continue Reading →
September 16, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) today announced the expiration and expiration date results of the previously announced offers to exchange (the “Exchange Offers”), by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), relating to seven series of its outstanding notes set forth in the tables below (the “Old... Continue Reading →
September 13, 2019 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (Teaser), regarding the sale of its interests in two onshore concessions, including outflow facilities, denominated Cupiúba and Carapanaúba Cluster, located in the state of Amazonas. The Teaser, which contains key asset information and eligibility criteria for selection of... Continue Reading →
September 12, 2019 Petróleo Brasileiro S.A. - Petrobras, in addition to the Notice to the Market issued on August 16, 2019 and the release disclosed on August 30, 2019, reports that it received today the Official Letter No. 441/2019/CVM/SRE/GER-2, by which CVM revokes the suspension of the company's public offering of debentures (7th issue), effective... Continue Reading →
September 12, 2019 Petrobras formulates sales models for the pre-salt pipelines with partners, scheduling operation for 2020 Petrobras is preparing an unprecedented operation to reduce its stake in the Route 1, Route 2 and Route 3 pipelines, which are responsible for interconnecting the Santos cluster fields to the coast of Rio de Janeiro and São... Continue Reading →
General Electric is looking to raise up to $3 billion in sale of majority-owned Baker Hughes shares, resulting in a reduction of the U.S industrial conglomerate's stake in the oilfield services provider to less than 50%, Baker Hughes said on Tuesday. Shares of Baker Hughes, in which GE owned an about 50.4% stake as of... Continue Reading →
Brazil Energy Insight 