Norwegian energy data company TGS and Norwegian oilfield services company PGS approved their merger plan on Dec. 1, according to a Dec. 1 press release.
The companies’ merger plan, dated Oct. 25, will be filed with the Norwegian Register of Business Enterprises with completion conditional upon customary closing conditions, including regulatory approvals and consents, the release added.
The companies are both listed on the Oslo Stock Exchange.
“Today marks a pivotal moment for TGS and PGS as we receive approval from our shareholders for the merger plan,” TGS CEO Kristian Johansen said in a statement. “We strongly believe this merger will bring substantial value to our respective stakeholders. Together, we are poised to deliver unparalleled energy data solutions to our global partners.”
Recommended Reading
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.