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Acquisitions and Divestitures News

Oman Block 44 Acquisition by ARA Completed
Oman >> 4/8/2017 - ARA Petroleum, a new entrant to Oman’s burgeoning upstream Exploration & Production (E&P) industry, has confirmed that its acquisition of the 100 per cent interest of PTTEP Oman Company Limited in Blo...
Parkmead Increases its Stake in Highly Prospective West of Shetland Area
United Kingdom >> 4/4/2017 - Parkmead, the UK and Netherlands focused independent oil and gas group, has nearly doubled its stake in the major Sanda North and Sanda South structures in the West of Shetland area of the UK North Se...
EnerMech Extends Total E&P Contract
United Kingdom >> 4/4/2017 - EnerMech has secured a new three-year contract, with two one-year options, for North Sea crane operation and maintenance on behalf of Total E&P UK Ltd. The previous five-year contract for the provisio...
FAR Awarded Additional Equity in Guinea-Bissau Licences
Guinea Bissau >> 4/4/2017 - Negotiations have concluded with the National oil company of Guinea-Bissau, Petroguin, to revise the terms of both the Sinapa and Esperanca Licences to which FAR Limited has interests. Under the revis...
Sterling Agrees Revised Terms with Petrosoma for Odewayne PSA Farm-in
Somalia >> 4/3/2017 - Sterling Energy Plc (Sterling), the AIM listed oil and gas exploration and production company, has agreed with Petrosoma Limited (Petrosoma) to revised terms of the Farmout Agreement between Sterling ...
BP to Sell Forties Pipeline System to INEOS for $250 Million
United Kingdom >> 4/3/2017 - BP has agreed to sell its Forties Pipeline System (FPS) business, with assets including the main Forties offshore and onshore pipelines and other associated pipeline interests and facilities, to INEOS...
Cobalt Threatens Arbitration over Angolan Oil Assets
Angola >> 4/3/2017 - U.S. oil firm Cobalt said it would seek arbitration if Angola's state-run Sonangol failed to extend licence deadlines on two deepwater blocks, a move the U.S. company said was needed to help it sell t...
Triangle & Royal Acquire ROC Oil's Interest in Cliff Head Field
Australia >> 3/31/2017 - Triangle Energy (Global) Limited (Triangle) is pleased to announce the execution of a Share Purchase Agreement (SPA) with ROC Oil Company Limited (ROC) for the purchase of its 42.5% Participating Inte...
Hyperdynamics Executes Farmout Agreement with SAPETRO
Guinea >> 3/31/2017 - Hyperdynamics Corporation announced that its wholly owned subsidiary, SCS Corporation Ltd. (SCS), and South Atlantic Petroleum (SAPETRO) executed a Farmout Agreement (FOA). Under the terms of the FOA,...
Repsol Farms in to Energean’s Loannina & Aitoloakarnania Blocks
Greece >> 3/31/2017 - Energean Oil & Gas (Energean) has agreed to farm out a 60% interest in its Ioannina and Aitoloakarnania blocks, onshore Western Greece, to Repsol. Repsol will also become the Operator for both blocks....
FAR Signs Strategic AMI with CNOOC Offshore Senegal & Gambia
Senegal >> 3/31/2017 - FAR has signed an Area of Mutual Interest (AMI) agreement with CNOOC UK Limited (CNOOC UK). The AMI covers selected licences offshore Senegal and The Gambia within the designated area. The AMI provide...
Africa Energy to Acquire Interest in PEL 37 from Pancontinental
Namibia >> 3/30/2017 - Africa Energy Corp. (Africa Energy) has terminated the farmout agreement (the "Farmout Agreement") entered into on November 29, 2016 with a subsidiary of Pancontinental Oil & Gas N.L. (Pancontinental)...
Argentina's YPF & Total & Partners to Invest $500M in Vaca Muerta
Argentina >> 3/30/2017 - Argentina's state-run oil company YPF SA will make a joint $500 million shale gas investment with Pan American Energy LLC, Total Austral SA and Wintershall Energia SA in the Vaca Muerta formation, acc...
Petrobras Withdrew the Sale of Bauna and Tartaruga Verde
Brazil >> 3/30/2017 - Petrobras has now notified Karoon that the process relating to the sale of Bauna and Tartaruga Verde has been withdrawn.    ...
Acquiring ExxonMobil’s Operated Upstream Business in Norway
Norway >> 3/29/2017 - HitecVision and its majority owned portfolio company Point Resources are pleased to announce the signing of an agreement to acquire ExxonMobil’s operated upstream business in Norway from ExxonMobil Ex...
Impact Oil & Gas Farms Out Interest in AGC Profond PSC to CNOOC
Senegal >> 3/29/2017 - Impact Oil and Gas Ltd, the African-focused pure exploration company, is pleased to announce that its subsidiary, Impact Oil & Gas AGC Ltd (Impact), has reached an agreement with CNOOC UK Limited (CNO...
ConocoPhillips Sells Oil Sands & Gas Assets to Cenovus in $17.7B Deal
Canada >> 3/29/2017 - ConocoPhillips (COP) has signed a definitive agreement with Cenovus (CVE) to sell its 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the ma...
3D Oil Seeking Partner for Recently Awarded Permit WA-527-P
Australia >> 3/29/2017 - 3D Oil Limited has been awarded a new exploration permit, WA-527-P in the Roebuck Basin of Western Australia, bid on in the December 2016 Australian Offshore Gazettal round. W-16-8 covers an area of 6...
Erin Enters into a Farm-Out Deal with FAR for Gambia Blocks
Gambia >> 3/27/2017 - Erin Energy Corporation (Erin Energy or the Company) has entered into a definitive farm-out agreement with FAR Ltd. (FAR), an Australian Securities Exchange listed oil and gas company, whereby FAR wil...
Azinor Catalyst Offers Two Licences in UKCS 29th Licensing Round
United Kingdom >> 3/24/2017 - Azinor Catalyst (Catalyst), the Seacrest Capital Group-backed E&P company focused on the United Kingdom Continental Shelf (UKCS), has been awarded two operated licences, comprising 10 blocks, on the U...

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