Hess Guyana (Block B) Exploration, a subsidiary of Hess Corporation, has signed an agreement to purchase 15% interest in the Kaieteur block offshore Guyana from Exxon Mobil’s subsidiary Esso Exploration and Production Guyana.
Located approximately 249.45km (155 miles) off the coast of Guyana, the Kaieteur block lies in the Guyana-Suriname Basin and covers 3.3 million acres.
Based in the US, Hess Corporation is an energy company, while Esso Exploration and Production Guyana is based in Guyana and is a subsidiary of US-based oil and gas company Exxon Mobil Corp.
The deal will strengthen Hess Corporation’s oil and gas assets base in Guyana.
LLOG Exploration Offshore, Navitas Petroleum US, and Beacon Offshore Energy together have agreed to purchase 70% working interest in the Shenandoah deepwater oil field.
The Shenandoah oil field is located approximately 274km (170 miles) to the south of Port Fourchon, offshore Louisiana, in the Gulf of Mexico, US. The field lies in the Walker Ridge Blocks 51, 52 and 53 in 5,800ft of water.
LLOG will take over as the operator of the field, following the transaction.
All the companies involved in the transaction are oil and gas companies and based in the US.
The deal is expected to strengthen the oil and gas asset base of LLOG, Navitas Petroleum, and Beacon Offshore in the Gulf of Mexico.
Nigeria-based integrated oil and gas company Nigerian National Petroleum Corporation, through its subsidiary Nigerian Petroleum Development Company (NPDC), plans to take over certain oil blocks located in West Africa.
The deal is expected to strengthen NNPC’s energy portfolio in West Africa.
Norwegian oil and gas company Statoil ASA has signed an agreement to divest 17% of its non-operated interest in the Alba oil field to UK-based oil and gas company Verus Petroleum UK Ltd.
The Alba field is a heavy oil field located 209km (130 miles) north-east of Aberdeen in the UK Continental Shelf in 453ft (138m) of water.
Statoil will retain the decommissioning liabilities share for existing infrastructure, while the decommissioning liabilities rights for any new infrastructure will be borne by Verus Petroleum.
The deal is expected to expand Verus Petroleum’s production base and cash flow.
Premier Oil has entered a sale and purchase agreement with Verus Petroleum SNS (Verus) to divest its stake in the Babbage Area assets for £68.4m ($94.24m).
Located in the UK Southern North Sea, the Babbage Area assets comprise of 47% operated stake in P456 and a 50% operated stake in P2212, P2290, and P2301 licences.
The assets also include the Cobra discovery and the Babbage gas field located in Block 48/2a of the UK Southern Gas Basin.
Verus will pay £45.9m ($63.23m) in cash for the Babbage gas field and £17m ($23.42m) for the P2212, P2290, and P2301, as per the agreement. The company will pay an additional amount of £5.5m ($7.58m) in case the Cobra discovery is developed.
Premier Oil is an oil and gas exploration and production company, while Verus is an oil and gas company. Both companies involved in the transaction are based in the UK.
The deal is expected to expand Verus’ oil and gas asset portfolio.
US-based oil and gas company Stone Energy Corporation has acquired a 100% stake in the Ram Powell Unit from Shell Offshore, Exxon Mobil Corp (ExxonMobil), and Anadarko US Offshore.
The transaction involves a cash payment of $34m and financial assurance instruments worth $200m.
Located in the Gulf of Mexico, the Ram Powell Unit comprises six lease blocks in the Viosca Knoll Area, the Ram Powell tension leg platform (TLP), and other assets.
Shell Offshore, Exxon Mobil Corp (ExxonMobil), and Anadarko US Offshore are oil and gas companies both based in the US.
The acquisition is expected to strengthen Stone Energy’s oil and gas portfolio in the Gulf of Mexico.
OMV has entered a 40-year agreement with Abu Dhabi National Oil Company (ADNOC) to acquire 20% interest in the Satah Al Razboot (SARB) and Umm Lulu offshore oil concessions located in the UAE for a participation fee of $1.5bn.
The agreement also includes infrastructure associated with the concessions.
OMV is an Austrian oil and gas company, while ADNOC is a state-owned oil company of the UAE.
ADNOC will hold the remaining 60% stake in the offshore concession, which will be operated by its subsidiary.
The transaction will enable OMV to maximise returns from its resources and strengthen its downstream business.
Bermuda-based drilling services provider Odfjell Drilling has agreed to raise $75m through the placement of preferred shares with a dividend rate of 7% a year.
The shares issued under the placement will be subscribed to by Norwegian Akastor ASA.