Gear Energy has agreed to acquire Striker Exploration to strengthen its oil and gas operations.
With a net value of approximately $49m, the deal will transfer Gear Energy’s shares to Striker shareholders at a ratio of 2.325:1.
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Peters & Co and FirstEnergy Capital are financial advisors to Gear and Striker, respectively.
The deal is scheduled for completion in July 2016.
Holly Energy has acquired a 50% stake in Cheyenne Pipeline.
The $42.5m transaction will allow Holly Energy to expand its portfolio of pipeline assets.
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By GlobalDataCheyenne and Plains All American Pipeline co-own the 87mi-long Cheyenne Pipeline, which has a crude oil transmission capacity of 80,000bopd.
Infracore Processing, part of Petrocapita Income Trust, has acquired the outstanding shares of 1701307 Alberta, operating as MJ Vallee Trucking.
The transaction implies a net value of $0.42m, which has been financed by Petrocapita through the issue of 6% convertible debentures that are due in 2023.
MJ Vallee offers heavy oil transport trucks and trailers, as well as a repair and maintenance facility, and a storage yard for its fleet.
Rex International (REX) has acquired a 25% interest stake in Dahan Petroleum.
The deal involved a purchase consideration of $9.75m, which was funded through the transfer of 10% of REX shares in Lime Petroleum Norway and 5% in Masirah Oil.
Dahan is now owned by Lime Petroleum (59%), REX (25%) and Right Ally (16%).
