Indian firms sell nearly $2B in $US-denominated debtJanuary was a busy month for Indian energy bond issuers, with three of the subcontinent’s
larger state-owned oil companies selling debt into global markets, apart from the usual array
of short-term zero coupon instruments sold locally, typically to finance commercial paper.
State-owned Indian Oil Corp. launched a $900 million aggregate principal amount
of 4.75% senior unsecured notes due 2024, bringing its notes and bonds outstanding to
about $4 billion. The company had anticipated a launch in...
Feb 06, 2019
Oil trader Vitol’s Viva Energy IPO could top A$3.0 billionOil trading giant Vitol launched an initial public offering of its Australian fuel distribution and refinery business on June 20 that could raise up to A$3.058 billion ($2.26 billion) at the top end of a range beginning at A$2.399 billion ($1.78 billion) If Viva Energy’s fundraising reaches the intended peak, it would be Australia’s biggest IPO since 2014 when the government spun off health insurer Medibank Private for A$5.68 billion. Viva shares will trade on the Australian Stock Exchange...
Jul 06, 2018
Bharat completes $83.1MM placement for capexBharat Petroleum Corp Ltd. raised INR 5.5 billion ($83.1 million) through a private placement of 7.35% secured non-convertible debentures due 2022. The company had earlier announced it was seeking to sell up to INR 20 billion in debt prior to the March 31 end of FY17 in order to fund capex, including recouping money already spent. The debentures were listed on the Bombay Stock Exchange and National Stock Exchange of India. The company said a private placement rather than a public offering was...
Mar 16, 2017
Government to divest 10% stake in Oil India Ltd.The government of India will push through with the sale of a 10% stake in staterun Oil India Ltd. in mid-February. At the prevailing market price, analysts expect the 10% stake in Oil India to fetch $526 million. The government holds 78.43% of the company. The sale is part of the government's plan last year to sell stakes in seven state-run companies through auctions on stock exchanges, but was postponed due to volatile markets. Oil India's finance director T.K. Ananth Kumar said the planned...
Jan 07, 2013
Top five stock winners & losers - August 28, 2012Heritage Oil surged nearly 63% as investors cheered its sale of a 26% stake in Iraqi Kurdistan's Miran gas block to Genel Energy for $156 million. Genel will also provide a $294 million loan to Heritage which will retain a 49% interest in Miran. The loan will be repaid by transferring ownership of Heritage sub Heritage Energy Middle East to Genel. The deal allowed Heritage to scrap a $370 million rights issue to fund its acquisition of an interest in Nigeria's OML 30 Block.Shares of...
Aug 28, 2012
Osum raises $500MM in private placementOsum Oil Sands Corp. entered into definitive agreements with a group of investors to issue, on a private placement basis, $500 million in equity securities consisting of 21.2 million common shares at $12.50 per share for total gross proceeds of ~$265 million, as well as 18.8 million callable common share purchase warrants, each exercisable into one common share at $12.50 per common share for additional gross proceeds of $235 million.
New investors included KERN Partners and Government of...
Dec 29, 2011
National Oilwell buys two international companiesNational Oilwell Varco acquired two private businesses serving the international oil and gas industry, for total consideration of ~$160 million in cash.
Hochang Machinery Industries Co., Ltd. is a manufacturing and fabrication business with facilities in Ulsan and Geoje, South Korea. Hochang has been a high-quality supplier of equipment fabrication services to National Oilwell Varco, Inc. and Asian drilling rig builders for several years, employing ~600 people. Its acquisition is expected to...
Dec 08, 2009
LL&E boosts reservesLouisiana Land & Exploration Co. (LL&E) expects 1992 oil and gas reserve additions to exceed production. LL&E said properties acquired in 1992 will add 2,400 b/d to its 1993 liquids production.
The company said its subsidiary, LL&E Algeria Ltd., has signed a five-year, $33 million contract for exploration and production of oil and natural gas in Algeria. The unit signed the agreement with Algeria's Enterprise Nationale Sonatrach, the national energy company. The pact covers exploration Block...
Jan 01, 1993
IS - Oceania Briefs - December 31, 2019Australia’s National Offshore Petroleum Safety and Environmental Management Authority has approved Equinor’s environment plan for exploratory drilling in the Great Australian Bight. Equinor now has two of the four approvals needed before it can start drilling the proposed Stromlo-1 well in EPP39. Singapore-based Interra Resources finished drilling its first well on the Kuala Pambuang block onshore southern Central Kalimantan, Indonesia. The well reached a depth of 3,771 ft, and logs...
Dec 31, 2019
ID - News Briefs - April 17, 2019NWF Group, a UK-based fuel
distributor, bought out Consols Oils Ltd, a
smaller, privately held rival that distributes
fuel and heating oil to commercial and
domestic customers in Cornwall, UK.
When the transaction closed April 4,
Consol became a subsidiary of NWF. Parkmead Group was awarded a
license to explore in the gas-prone 47/10d
and 48/6d blocks in the UK southern
gas basin of the North Sea.
Parkmead is the operator with
75% WI in the block, which
contains the Blackadder prospect...
Apr 17, 2019
CanadianAcquirer - People & Companies Briefs - January 11, 2017Calgary-based Baytex Energy appointed Ed LaFehr, President, to succeed James Bowzer as CEO in May 2017. LaFehr joined Baytex in July 2016 as President with responsibility for the company’s Canadian and US business operations and corporate development. Bowzer has served as CEO since September 2012 and will remain on the board. Blue Sky Energy appointed corporate secretary Neil Said as VP and to the board following its acquisition of Sonoro Energy’s Iraqi exploration and development...
Jan 11, 2017
Asia Briefs - December 22, 2015• India raised excise taxes on diesel Asia by 1.17 rupees ($0.0175) per litre and on petrol by a fraction of a rupee, the Himalayan Times reported. The minimally invasive hikes will bring in an anticipated 25 billion rupees, according to finance minister Arun Jaitley. Earlier, state-run Indian Oil Corp. reduced the price of diesel by about 1% and petrol by 0.8% to reflect changes in global fuel prices. • Intercontinental Exchange’s new Singapore hub executed more than 54,000...
Dec 22, 2015
Financing Briefs - November 25, 2015Toronto-based junior Boomerang Oil is in negotiations with a private oil financing firm on funding that would allow the company to drill up to four wells on its JB Tubb lease in Texas. The lease is a multi-pay package in Ward and Jones counties and a part of the Sandy Hills Crawar field. Boomerang’s business model is to acquire existing oilfields with proven reserves and to rehabilitate those fields.Canadian Spirit Resources plans to privately place a combination of flow-through shares...
Nov 25, 2015
International Briefs - October 10, 2012• China Oilfield Service Ltd. (COSL) has plans to add as many as fifty new, unspecified vessels to support the company's offshore oil projects, just as China's first deepwater drilling rig operations begin near South China Sea islands.• CNPC's first in-house built drilling rig was put into service in the Panjin Port, Liaoning Province, China. The rig, the CP-300, is a jack-up designed and built by CNPC Bohai Equipment Manufacturing. It is operable to water depths of 300 feet, can drill...
Oct 10, 2012
International Briefs - August 31, 2004El Paso’s divestitures continue on international front
El Paso Production Co. closed the sale of its shares in Coastal Indonesia Sampang Ltd. to Singapore Petroleum Company Ltd. for $23.2 million plus working capital. Coastal Indonesia Sampang Ltd. owns 40% in the Sampang PSC, which provides exploration and drilling rights in Indonesia.
On the U.S. side El Paso did pick up some additional WI in its core Alabama CBM operations by exercising various preferential rights this...
Aug 31, 2004