Canadian rental equipment and matting solutions provider Strad Energy Services has announced its acquirement of two private surface rental equipment companies based in British Columbia.
The cost of the acquisitions is C$2.75m ($2.09m), which was funded through $1.33m of cash in hand and the remaining through issuance of 561,798 of the company's class A common shares.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The acquisitions are expected to help Strand Energy to strengthen its service offerings in the Montney and Duvernay plays in North East British Columbia and North West Alberta, Canada.
Cosmo Energy Holdings’ subsidiaries have reached an agreement with San-AI Oil to acquire 20% stake in Kygnus Sekiyu K.K. from the latter.
Based in Tokyo, Japan, the target company buys and sells petroleum and petrochemical products at approximately 500 own gas stations.
The stake purchase is expected to be completed before 30 June.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRussian-based Lukoil Oil Company has sold Lukoil Chemical, a petrochemical company based in Belgium, to an undisclosed company.
US-based natural gas distribution company Peoples Natural Gas Company will acquire Delta Natural Gas Company through an affiliate for $217.16m, representing approximately $30.5 per share of the target company, which is also based in the US.
The acquisition is expected to be completed by the end of this year.
Abu Dhabi National Oil Company has sold 4% stake in its subsidiary Abu Dhabi Company for Onshore Petroleum Operations to CEFC China Energy Company.
The sale consideration for the transaction was AED3.3bn ($888m).
Based in China, the acquirer company is a business conglomerate, whereas the target company is an oil and gas exploration and production company based in the UAE.
A group of local investors have acquired oil and gas companies Petrolera Patagonia SRL and Ingenieria Petrolera del Rio de la Plata SRL from Zenith Energy.
The divestment is part of Zenith Energy’s strategy to exit from Argentina in order to focus on Italian and Azerbaijan operations.
