Pantheon Resources has signed an agreement to acquire Kaiser Francis’ 66.6% ownership interest in Vision Gas and Vision Resources (Vision), as well as the 33.3% working interest in VOS#1 well and associated Tyler County acreage.
The sale consideration includes 3.5 million new ordinary shares to be issued by Pantheon Resources to Kaiser Francis.
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The acquisition will give Pantheon management and control of the entities of Vision.
Pantheon Resources is a UK-based oil and gas exploration company. A subsidiary of GBK Corporation, Kaiser Francis is an oil and gas exploration and production company based in the US.
Also based in the US, Vision Resources is an oil drilling services provider.
Petroleos de Venezuela’s subsidiary PDV Caribe has agreed to sell its 49% stake in Petrojam Limited to A &A Lime Hall Development.
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By GlobalDataJointly owned by the Venezuelan and Jamaican governments, Petrojam owns the Jamaican oil refinery.
Equivalent to $5,830.9 per barrel of installed refining capacity, the $100m transaction will involve the transfer of 392.49 million Petrojam shares.
Kongsberg Gruppen has agreed to sell its subsidiary Kongsberg Evotec to Rome AS.
The divestment will enable Kongsberg Gruppen to gain regulatory approval for its proposed acquisition of Rolls-Royce Commercial Marine.
Petroleo Brasileiro has announced its intention to divest the entire stake in its subsidiary Araucária Nitrogenados.
The company plans to resume the competitive processes for the same and proceed to form partnerships in refining.
Pulse Seismic has acquired Seitel Canada with the aim of improving its revenue by gaining access to the latter’s high-quality seismic data.
Seitel Canada’s assets primarily consist of a library of 36,356km² of 3D and 379,207km² of 2D seismic data in Western Canada.
The purchase consideration for the acquisition is C$53.6m in cash to be paid at the time of closing and an additional C$5m in potential future payments within two years of closing.
