Chevron, M&A, A&D, asset, oil, land, sale, John Watson, Gulf of Mexico, Permian

Although M&A and A&D activity has been down lately, some believe change is coming.

PDi, which provides multi-discipline engineering and project management for the oil and gas industry, was acquired by Ceona in 2012 to augment Ceona Group.

The country received three bids for deep sea oil and gas drilling in 20 offshore blocks in the Ionian Sea and south of the island of Crete last summer and unsealed the bids earlier this week.

Gas project in New South Wales delivered "disappointing gas flow" and "the economic returns to support the investment of approximately AU$1 billion were not adequate," the company said, Reuters reported.

The disposition included 6,739 acres of developed and undeveloped land at Kerrobert and mineral rights associated with 10,881 acres of undeveloped land around Edam, Saskatchewan.

Current production is ranging between 4,500 and 5,000 boe/d.The assets also have multiple additional development opportunities in the Notikewin and Falher C formations.

Alternatives include selling all or some assets; selling the company or merging with a third party; carrying out another transaction with a third party or alternative financing.

The agreements cover blocks PM328, SB307/308 and gas-holding areas in SB303 with an effective date of July 1, 2015, Lundin Petroleum said in a news release.

At closing, Athabasca forecasts about C$900 million of liquidity with a net cash position of about C$80 million adjusted for debt.

"We are not as favorable on the timing and the potential for [the deal] to go through as we were previously," said Edward Jones analyst Rob Desai, Reuters reported.

A non-binding heads of terms agreement was signed under which Schlumberger would receive 40% interest in Ophir’s FLNG Fortuna project in Equatorial Guinea, Reuters said.

Water Standard Group will now be able to deliver innovative, competitively priced water treatment solutions from small skid-mounted assemblies and mobile equipment, and larger integrated packages and modules.

Pages