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(OE) Enauta has proposed the merger with 3R Petroleum which would create one of the largest and the most diversified independent oil and gas companies in Latin America. The merger proposal has been approved by Enauta’s board of directors, and according to the company, the combination results in a balanced, five-year high organic growth portfolio... Continue Reading →
(OM) Dril-Quip and Innovex Downhole Solutions, a supplier of well life-cycle technologies and services, have agreed to merge via an all-stock transaction. On closure, Dril-Quip stockholders would own around 52% of the combined company and Innovex stockholders around 48%. The new group, with annual revenue of over $1 billion, would offer clients technical solutions for... Continue Reading →
(Reuters) U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess's Guyana assets. Exxon on Wednesday filed a contract arbitration claim related to Hess' proposed sale of its Guyana oil properties and suggested it may... Continue Reading →
(Offahore-energy.biz) The shifting sands of time are bringing winds of change to the global energy landscape in a bid to make it more sustainable, so that, the climate change woes can be tackled before time runs out. This has spurred decarbonization over the years, imbuing it with greater vigor. However, these efforts are not yet... Continue Reading →
(PN) 3R announced that it hired Itaú BBA as the company's financial advisor in evaluating the operation. The consultancy includes, together with internal teams and legal advisors, the evaluation of the strategy and schedule, and the analysis of the best corporate structure for implementing the potential transaction, if implemented. As a reminder, the merger proposal... Continue Reading →
(BJ) A relevant shareholder of 3R Petroleum is proposing a carveout of the company's onshore oil fields and the incorporation of these assets by PetroReconcavo, in a transaction that shows the struggle of junior oils for scale, sources familiar with the matter told Brazil Journal. The rationale for the transaction is already known to the... Continue Reading →
(EV) BlackRock will pay $3bn in cash, with around $9.48bn in 12 million BlackRock shares. GIP is an investor in a number of infrastructure assets, including a wide array of energy projects around the world. BlackRock said GIP had more than $100bn in assets under management (AUM). After closing, the investor would have around $150bn... Continue Reading →
(OET) U.S. energy company New Fortress Energy (NFE) has signed a definitive agreement to acquire a 1.6 GW capacity reserve contract (PortoCem PPA) from Ceiba Energy that will be transferred to new power assets connected to NFE’s existing LNG terminals in Brazil, enabling NFE to become “leading LNG-to-power company” in the country. According to NFE, the... Continue Reading →
Advanced Technology Industrial Group, a company controlled by Alpha Private Equity, has reached an agreement for the sale of 100% of Remazel Engineering to Italian shipbuilding giant Fincantieri. The anticipated completion of the transaction, expected in the first quarter of 2024, will result in Remazel becoming part of Fincantieri. The integration will combine Remazel's engineering... Continue Reading →
(OE) German utility RWE on Thursday said it would acquire three offshore wind projects off the English coast from Sweden's Vattenfall in a deal that values the assets at 963 million pounds ($1.2 billion). The UK Norfolk Offshore Wind Zone portfolio consists of three 1.4 gigawatt projects, RWE said. The transaction was expected to close... Continue Reading →
Brazil Energy Insight 