Flurry of deals shows investors still believe in North Sea
A recent spate of acquisitions shows oil companies and investors still see potential in the North Sea, a lawyer said yesterday.
mergers and acquisitions
Aberdeen engineer EnerMech snaps up EPS Group
Engineering services firm EnerMech said yesterday that it had snapped up an electrical and instrumentation (E&I) business with bases in Australia and the US.
GE, Baker Hughes expected to reveal $30bn link-up on Monday, report says
General Electric (GE) is nearing a deal valued at about $30billion to combine its oil and gas business with Baker Hughes Inc., the Wall Street Journal reported.
James Fisher acquires subsea service firm Hughes for £10m
Marine service company James Fisher and Sons said today it had completed another acquisition after tying up a £10million deal for Hughes Sub Surface Engineering.
Parkmead armed with “tonnes of firepower” for North Sea acquisitions
Aberdeen-based Parkmead Group has “tonnes of firepower” left for acquisitions after doubling its stakes in two North Sea fields, the oil and gas firm’s boss said yesterday.
Subsea 7 takes over Scottish polymer firm Swagelining
Oil services firm Subsea 7 today said it had snapped up Scottish polymer lining technology firm Swagelining for an undisclosed fee.
Californian energy firms agree to multi-million dollar merger
A Californian energy firm has provisionally agreed to take over a rival in a $41.5million (£31.6million) transaction, according to media reports. Bosses at Royale Energy said they expected the deal for Matrix Oil Corporation to go through before the end of 2016, subject to approval from regulators and shareholders. Royale is an independent exploration and production company with its main operations in the Sacramento and San Joaquin basins in California.
Amplus safeguards more than 40 north-east jobs with takeover of survey firm
An Aberdeen firm revealed yesterday it had safeguarded more than 40 north-east jobs after buying a survey company that was part of bankruptcy-hit Harkand Group. Amplus Energy, a floating production service firm, said all 42 employees from Andrews Survey would transfer to its base in Bridge of Don next month on the back of a multi-million pound deal. Andrews, which provides survey and positioning services to the offshore oil and gas and renewables markets, will keep its name and operate under its existing management team as part of Amplus Group.
Offshore cabin and container firm OEG targets new markets after rival takeover
An Aberdeen-based offshore cabin and container firm said yesterday it had snapped up a rival, paving the way for its expansion into Norway, Congo and Myanmar. The acquisition of Singapore-headquartered AOR Containers from Buss Global Group raises OEG Offshore’s global headcount to 160 from 140. It also adds 6,000 containers to the existing fleet of 19,000 at OEG, which was created in 2010 following a merger between Continental Offshore and Vertec Engineering.
Investors gathering to view African energy plays
Senior executives and investors will gather in London in June for the 18th Africa Energy Forum where global power industry figures meet with African stakeholders to discuss opportunities in Africa’s energy sector.