Pelican is the financial partner which supported the recapitalization and combination of the companies. The terms of the transaction weren't disclosed.

Alfa holds mineral rights in southeast Texasin the Eagle Ford and in the Edwards and Wilcox fieldsas well as in Oklahoma, Kansas and Colorado, Reuters reported.

The inquiry is investigating whether the $1.3 billion purchase of OPL 245 involved "acts of conspiracy, bribery, official corruption and money laundering," according to court papers seen in January, Reuters reported.

Final bids for the assets, which could be worth around $2 billion, are due by the end of February, sources familiar with the matter said.

Brazil, oil, gas, onshore, marginal, rounds

Aiming to boost the onshore industry, Brazil’s government wants to triple its output.

A non-brokered private placement of about 1.58 million common shares priced at CA$2.53 each—for gross proceeds of about CA$4 million—will help fund the purchase price alongside credit facilities.

The country invited companies to undertake appraisal and development of gas discoveries and prospects in a 2,924 sq km (1,129 sq miles) offshore block in the basin, Petroleum Resource Development Secretariat (PRDS) said on its website on Feb. 13.

Lundin Petroleum AB plans to spin off its assets from outside of Norway into a separately listed company and will distribute shares in the new firm to existing investors.

KOGAS would be "interested" in participating in U.S. shale gas projects, with such investment curbing any potential trade pressure on South Korea from the U.S. government, CEO says.

Premier said the acquired assets will supplement its existing operations in Houston, Aberdeen and Cairo and offer solutions to optimize production from both conventional and unconventional reservoirs.

The field is expected to come into production at the end of the year and will save Egypt billions of dollars in hard currency that would otherwise be spent on imports, Reuters reported.

From four currently producing wells, Flaxcombe Field produces about 85 barrels of oil per day. There are standing wellbores and shut-in production that can be reactivated.

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