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IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.
According to a letter obtained by Reuters, Chevron has agreed to transfer its 20% stake in an exploration license in the Arctic, called PL859, to Norway's DNO ASA.
BP CEO Bob Dudley hailed the deal with Italy's Eni as an important step "towards returning to our work in Libya."
The merger with Trinidad Drilling will position Precision as the third-largest driller in the U.S. with a rig fleet that includes over 200 active rigs and 322 total rigs, the companies said.
Following the sale, four new joint ventures will be formed, with Beach Energy operating and having a 60% interest in each joint venture, the company said in a statement.
Austrian energy group OMV on Oct. 3 said it has agreed to buy Siberian gas assets from Gazprom instead of swapping them for some of its own assets, giving in to opposition from Norway to the initial plans.
Houston-based Noble Energy sold its in Israel's Tamar Petroleum after announcing last week that it would help finance a gas export deal with Egypt, The Marker reported Oct. 3.
Exxon Mobil is considering selling deepwater assets in the GoM that currently produce about 50,000 barrels per day of oil, unnamed sources told Reuters.
Canadian oil and gas producer Husky Energy said late Oct. 2 it had formally offered to acquire rival MEG Energy in a deal valued at about $5 billion including debt.
Taking ConocoPhillips' 30% stake would help East Timor position itself to push for the development of Greater Sunrise, discovered in 1974 but development long delayed.
The Husky's takeover offer for MEG comes as many Canadian oil producers have struggled with transportation bottlenecks as output has surged.
Brazil’s 5th presalt production sharing round, held 10 days before the country’s upcoming presidential elections which outcome is unpredictable, attracted several oil majors.