Petro-Canada plans to acquire international oil and gas operations of Veba Oil & Gas from BP Plc for C$3.2 billion in cash in the North Sea, North Africa, including Libya, and northern Latin America. Veba produces about 175,000 BOE per day and has almost 600 million BOE of proven reserves. Antrim Energy Inc., Calgary, wholly owned subsidiary Antrim Oil & Gas Ltd. will sell its New Zealand assets to Swift Energy Co., Houston, for stock and cash. The assets include a 5% interest in Rimu-Kauri permit 38719 and a 7.5% interest in Huinga permit 38716. Apco Argentina Inc., Tulsa, and Globex Energy Inc., Dallas, have terminated their merger agreement. CNOOC Ltd., Hong Kong, plans to acquire nine subsidiaries from Repsol-YPF for US$585 million, cash. Proved reserves to be acquired total approximately 360 million BOE. The assets are all in Indonesia and the acquisition will make CNOOC the largest offshore oil producer in Indonesia. Enterprise Oil Plc, London, received an unsolicited approach from an unidentified party "regarding a possible offer for the company," and the offer has been rejected. Italy-based ENI is believed to have made the offer. American Manor Enterprises Inc., Calgary, plans to acquire from Jasmin Oil & Gas, Trinidad, an 80% interest in the South Erin Block, Trinidad. -Crystal Cleveland-Kappes
Recommended Reading
E&P Highlights: Jan. 29, 2024
2024-01-29 - Here’s a roundup of the latest E&P headlines, including activity at the Ichthys Field offshore Australia and new contract awards.
Seadrill Awarded $97.5 Million in Drillship Contracts
2024-01-30 - Seadrill will also resume management services for its West Auriga drillship earlier than anticipated.
Oceaneering Won $200MM in Manufactured Products Contracts in Q4 2023
2024-02-05 - The revenues from Oceaneering International’s manufactured products contracts range in value from less than $10 million to greater than $100 million.
E&P Highlights: Feb. 5, 2024
2024-02-05 - Here’s a roundup of the latest E&P headlines, including an update on Enauta’s Atlanta Phase 1 project.
CNOOC’s Suizhong 36-1/Luda 5-2 Starts Production Offshore China
2024-02-05 - CNOOC plans 118 development wells in the shallow water project in the Bohai Sea — the largest secondary development and adjustment project offshore China.