Canada’s Valeura Energy will buy two operated licences offshore Thailand from Singapore’s KrisEnergy, which was forced into liquidation last year, for a price of $3.1 million. There will also be certain contingent payments of up to a further $7 million related to future development milestones, said Valeura Energy.
Industry sources have told Energy Voice that liquidators for financially crippled Asia-focused upstream player KrisEnergy are accepting non-binding offers for the Singapore-based company’s assets.
Financially crippled Asia-focused upstream player KrisEnergy has finally admitted defeat and filed a winding-up petition to the Grand Court of the Cayman Islands. In response, state-backed Keppel Corporation, the largest shareholder in the Singapore-listed company, appears intent on seizing KrisEnergy’s remaining assets in Asia.
Singapore’s KrisEnergy, which is on the verge of collapse, has received a disappointing performance update on its Apsara oil field offshore Cambodia. The field was the financially crippled Singapore-listed company’s last hope to prevent it from going bust.
Singapore’s KrisEnergy is on the verge of collapse and eagle-eyed investors, seeking assets at bargain prices, are preparing to pick over the company’s carcass. However, given KrisEnergy’s recent dismal performance in Cambodia, there is not much left of interest.
Singapore-listed KrisEnergy, which appears to be on the verge of collapse, has received a requisition notice from two shareholders requesting an extraordinary general meeting (EGM), over concerns about the restructuring of the troubled upstream player.
Italy’s Eni has expanded its acreage position around a major gas discovery offshore Vietnam after acquiring a 100% interest in Block 115/09 from struggling Singapore company KrisEnergy.
Singapore-listed KrisEnergy – widely seen as a zombie company - is finally on the verge of collapse after production from its Apsara oilfield offshore Cambodia failed to meet expectations. Significantly, it should come as no surprise that the frontier basin disappointed.
Southeast Asia-focused upstream player KrisEnergy has finally completed the farm-out of its entire interest in Block 115/09 offshore Vietnam.
Southeast Asia-focused upstream player KrisEnergy has yet again delayed the completion date of the proposed farm-out of its entire interest in Block 115/09 offshore Vietnam.
Sinapore-based KrisEnergy has made a final investment decision on the Apsara oil field, Cambodia’s first hydrocarbon development project.
KrisEnergy's plans for Cambodia's first oil development might not open the floodgates to more upstream investment in the South-East Asian nation, according to an analyst.
KrisEnergy will develop Cambodia’s first oil field development after signing agreements with the South-East Asian nation.
Rig builder Keppel is ready to rescue KrisEnergy by subscribing to an bond offer from the debt-laden oil and gas explorer, a news report said.
KrisEnergy has kicked-off its seismic survey in the Gulf of the Thailand.