LONDON: ADM Energy PLC, a natural resource investing company, has formed a joint venture to acquire a portfolio of producing oil and gas wells and a natural gas gathering system in Oklahoma, the company announced Tuesday. The joint venture, Vega Upstream JV LLC, was formed with Covenant Oil Group Corp. and has executed a purchase…
SYDNEY: Australian Oil Company Limited (ASX: AOK) has signed binding agreements to acquire three petroleum leases and a pipeline license in Queensland’s Surat Basin, marking a strategic expansion into a region poised for increased gas demand. The assets, located near the town of Surat, include the producing Emu Apple Oil Field, the Riverslea Oil Field,…
LONDON: Serica Energy plc (AIM: SQZ) announced the signing of an agreement to acquire the entirety of BP’s stake in the P111 and P2544 licences, located in the UK Central North Sea. Completion is subject inter alia to the waiver of applicable pre-emption rights. The proposed acquisition comprises a 32% non-operated working interest in the…
LONDON: Upland Resources Limited has signed an Asset Acquisition Agreement with Vanguard Drilling Limited (“Vanguard”) regarding the proposed acquisition of Vanguard’s proprietary intellectual property, advanced drilling management systems, and the integration of select senior personnel into Upland’s operational structure. This agreement represents a significant development in Upland’s evolution into a fully integrated, technically capable operator in Southeast…
LONDON: Serica Energy plc (AIM: SQZ) is pleased to announce it has signed a sale and purchase agreement to acquire 100% of the issued share capital of Prax Upstream Limited from Prax Exploration & Production Plc. The acquisition is a corporate acquisition of Prax Upstream for a consideration of £14.5 million ($18.9 million). Completion is…
Santos shares surge over 15% after $18.7 billion takeover bid ADELAIDE: Santos Limited (ASX: STO), a leading Australian energy company, announced Monday it received a non-binding takeover proposal from a consortium led by Abu Dhabi’s XRG P.J.S.C., a subsidiary of the Abu Dhabi National Oil Company (ADNOC). The bid, valued at US$5.76 (A$8.89) per share, represents…