mergers and acquisitions
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The Oklahoma City-based tight-oil producer has agreed to acquire Validus Energy.
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For those with an oil company to sell, an oil price of $100/bbl is not what it used to be.
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Another day, another deal for ProFrac.
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The Internet of Things company plans to broaden its reach into the oil and gas industry with its acquisition of Hiber.
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Upon closing, the newly combined oil company will boast 135,000 BOE/D and hold around 15 years’ worth of drilling locations in the Permian Basin.
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The deal grows the marine energy services company’s shallow-water GOM fleet by more than 30 vessels.
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The combined company will get a new name and a new focus on offshore renewables and other clean energy projects.
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Altus brings well intervention technologies, including tractor and power mechanical application solutions.
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Azule Energy, a new E&P company, will be independently managed and one of Angola’s largest oil producers.
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The deal enhances the contractor’s presence in West Africa and provides for expansion in Southeast Asia.