Statoil Completes Transaction with Lundin

Source: www.gulfoilandgas.com 6/30/2016, Location: Europe

Statoil ASA and Lundin Petroleum have completed their previously announced transaction, whereby Statoil has sold its entire 15 percent interest in the Edvard Grieg field for an increased shareholding in Lundin Petroleum.

The transaction also included the divestment of associated pipeline interests and a cash consideration of approximately USD 64 million. In exchange, Statoil has received 31,316,115 new shares and treasury shares in Lundin Petroleum.

The transaction was approved by Lundin Petroleum ABs Extraordinary General Meeting on 30 May 2016 and has received the required authority approvals.

Following completion of the transaction Statoil will own approximately 68.4 million shares of Lundin Petroleum, corresponding to 20.1 percent of the shares and votes. The economic effective date for the divestment of these assets is 1 January 2016.


Ivory Coast (Cote D'Ivoire) >>  2/27/2024 - The Board of Directors of VAALCO Energy, Inc. notes the recent media speculation in Africa Intelligence and confirms that the Company is in discussion...
United Kingdom >>  2/27/2024 - Orcadian Energy (AIM: ORCA), the North Sea focused oil and gas development company, is pleased to announce its unaudited results for the six months en...

United States >>  2/27/2024 - RB Global, Inc. (NYSE: RBA) (TSX: RBA), the trusted global marketplace for insights, services and transaction solutions for commercial assets and vehi...
Canada >>  2/26/2024 - Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has completed an acquisition of fixed and mobile MaxPER...

United Kingdom >>  2/26/2024 - Further to the RNS issued on 23 November 2023, Serica Energy plc (AIM: SQZ) announces the completion of the acquisition by its wholly owned subsidiary...
United Kingdom >>  2/26/2024 - Jersey Oil & Gas plc (AIM: JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf region of the North Sea, is pleased ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.