A Barrel Fulll Archive

21.12.2021 The merger of Aker BP and Lundin Energy unites two highly successful E&P companies which have both been instrumental in the development of the NCS for more than a decade, to create the E&P company of the future. The proposed combination has strategic, and value accretive benefits and the combined company will be characterized by increased scale, world-class quality, and high returns:High cash flow through the cycle with capacity to pay an increasing dividend Potential to realise operational synergies of up to USD 200 million per year Low operating costs and one of the lowest carbon intensities of any E&P company Resource base of 2.7 billion barrels of oil equivalents with significant growth potential Estimated production in 2022 above 400 mboepd An attractive pipeline of development projects with low break-evens with potential to grow production above 500 mboepd by 2028 Credit accretive through enhanced balance sheet resilience and increased scale Ability to depl...

Sep. 17, 2018 Kosmos Energy (NYSE: KOS) (LSE: KOS) announced today that it has completed the previously announced acquisition of Deep Gulf Energy (“DGE”)1, a leading deepwater company operating in the Gulf of Mexico. By acquiring DGE, Kosmos adds to its deepwater Atlantic Margin portfolio an established business with attractive assets and a strong record of growing production and reserves through infrastructure-led exploration. This immediately accretive acquisition enhances the scale of the company and is expected to generate significant free cash flow, enabling Kosmos to return cash to shareholders through a dividend, beginning in the first quarter of 2019. Assets include: Barataria Big Bend Bon Villian Danny Don Larsen Gladden Kodiak Oil Field - A Barrel Full Madame X Marmalard Odd Job Sargent Son of Bluto II South Santa Cruz Tornado

September 11, 2014 Technip was awarded by Deep Gulf Energy II LLC a lump sum contract for the development of the Kodiak field , located in Mississippi Canyon Blocks 727 and 771, in the Gulf of Mexico, at water depths ranging from 1,472 meters to 1,710 meters. The project consists of a subsea tie-back to the Devils Tower Truss Spar located in Mississippi Canyon Block 773. To withstand Kodiak field’s high temperature and pressure as well as extremely corrosive production fluids, the pipeline will be of a bi-metallic construction, lined with corrosion resistant alloy(1). This solution effectively addresses the challenges of increasingly demanding operating conditions. This contract covers:project management, fabrication(2) and installation of more than 12 kilometers of reeled bi-metallic flowline and riser, installation of an 11-kilometer umbilical, associated terminations and flying leads, pre-commissioning and testing for the rigid line, crossings preparation along with pre-lay and post...

January 13, 2017 Today, OMV, the international integrated oil and gas company based in Vienna, closed the sale of 100% of the shares in its wholly owned subsidiary OMV (U.K.) Limited to Siccar Point Energy Limited, Aberdeen, following the fulfillment of the agreed conditions, including regulatory approval. The transaction was signed on November 9, 2016. Siccar Point Energy Limited made a firm closing payment of approximately USD 870 mn. The transaction documentation provides for further contingent purchase price elements depending on the co-venturers' approval of the Rosebank project final investment decision. The sale of OMV UK fits with OMV´s strategy of rebalancing and optimizing the upstream portfolio. Background information: OMV (U.K.) Limited OMV UK has interests in 22 licenses at various stages of production, development, appraisal and exploration. The portfolio includes: the Jade field (OMV UK share 5.6%) which is currently producing in the UK Central North Sea. The Schieh...

4th July 2022 Ithaca Energy is pleased to announce that its acquisition of Siccar Point Energy, announced on 7 April 2022, has completed with all conditions having been met. The acquisition positions Ithaca as one of the leading E&P operators in the UK North Sea with four of the basin’s largest producing fields and some of its largest development projects. Gilad Myerson, Executive Chairman of Ithaca Energy, commented: “Completion of the acquisition of Siccar Point marks a key milestone in establishing Ithaca as a leading UK North Sea E&P company with significant production, material growth potential, and a long-life cycle portfolio. We are excited about the future and welcome our new colleagues from Siccar Point.” Assets include: Cambo Oil Field - A Barrel Full Jackdaw Gas Field - A Barrel Full Judy, Joanne and Jade Gas and Condensate Fields - A Barrel Full Mariner Oil Field - A Barrel Full Rose Bank Oil and Gas Field - A Barrel Full Schiehallion Oil Field - A Barrel Full

April 23, 2019 Murphy Oil Corporation (NYSE: MUR) announced today that its wholly owned subsidiary, Murphy Exploration & Production Company – USA (“Murphy”), has entered into a definitive agreement to acquire deep water Gulf of Mexico assets from LLOG Exploration Offshore, L.L.C. and LLOG Bluewater Holdings, L.L.C., (“LLOG”). The accretive, cash flow providing Gulf of Mexico assets currently produce approximately 38,000 barrels of oil equivalent per day net (Boepd) and are expected to add approximately 66 million barrels of oil equivalent net (Mmboe) of Proven (1P) reserves and 122 Mmboe of Proven and Probable (2P) reserves1. The transaction will have an effective date of January 1, 2019 and is expected to close in the second quarter, subject to normal closing adjustments. Murphy will pay a cash consideration of $1.375 billion. Additional contingent consideration payments are based on the following: up to $200 million in the event that revenue from certain properties exceeds certai...

09/12/16 Freeport-McMoRan Inc. (NYSE: FCX) announced today that its oil and gas subsidiary, Freeport-McMoRan Oil & Gas (FM O&G), has entered into a purchase and sale agreement with Anadarko Petroleum Corporation (NYSE: APC) for the sale of its Deepwater Gulf of Mexico (GOM) properties for total cash consideration of $2.0 billion and up to $150 million in contingent payments. The contingent payments would be received over time as Anadarko realizes future cash flows in connection with FM O&G’s recently completed third-party production handling agreement for the Marlin platform. Anadarko will also assume future abandonment obligations associated with the properties which had a book value of approximately $0.5 billion at June 30, 2016. Richard C. Adkerson, President and Chief Executive Officer, said, "We are pleased to announce this transaction which brings our total 2016 asset sale transactions to over $6 billion and reflects our commitment to debt reduction and our focu...