acquisitions and divestitures
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Norwegian operator sells its nonoperated stake in the Corrib gas project -
Asset sale includes stakes in the Mariner and Culzean projects in the North Sea.
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A trio of service companies will serve as proposed “stalking horse” bidders in the court-supervised sale process, which will be facilitated through Chapter 11 filing.
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The operator is exercising its right of first refusal, negating the previously announced deal with a private equity group.
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UK major offloads North Sea stake to Tailwind Energy as it continues to adjust its portfolio in the region.
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A recent symposium focused on acquisitions and divestitures held by SPE’s Gulf Coast Section offered a face-to-face look at the state of oil and gas investing.
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Oil major sells its holdings in Egypt’s Western Desert.
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The energy unit of the London-based multinational chemical company is seeking to bolster its ownership of operated offshore assets.
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The deal follows investor pressure shared across the US shale sector to reduce leverage and capital outflows.
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The sale of the minority stake is part of its larger 2021 program to raise an average of $4 billion annually by shedding noncore holdings.
