OSLO, NORWAY: BW Energy has signed a Letter Agreement (LA) with Reconnaissance Energy Africa Ltd to acquire approximately 16.8 million common shares and 16.8 million warrants for a total consideration of USD 16 million in ReconAfrica’s announced equity raise. By participating in the equity raise, BW Energy will also receive a 20% non-operating interest in…
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BW Offshore to divest FPSO Polvo to BW Energy
OSLO, NORWAY: BW Offshore has signed an agreement for the sale of the FPSO Polvo to BW Energy for a total consideration of USD 50 million. The sale will be completed no later than July 24, 2023. BW Energy has the option to complete the transaction before that date. If the transaction is completed early,…
BW Offshore to sell 7.8% holding in BW Energy
OSLO, NORWAY: BW Offshore Limited (BWO) has retained Citigroup Global Markets Limited and Pareto Securities AS to explore a potential block sale of existing shares in BW Energy Limited (BWE) through a private placement. BW Offshore Limited is contemplating selling 20 shares in BWE Energy, representing approximately 7.8 per cent of the shares outstanding in…
BW Energy announces 50pc capital expenditure reduction for 2020
OSLO: BW Energy, a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments, has announces adjustments to the development program on the operated Dussafu Marin license in Gabon in response to the spread of the coronavirus (COVID-19) and restrictions on international travel. The deferral of…
BW Energy completes second production well of the Tortue Phase 2 development
OSLO: BW Energy, a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments, has completed the second production well of the Tortue Phase 2 development. The DTM-5H well marks the completion of the first of two new well clusters on the Tortue field which will…