Midstates Petroleum Company plans to merge with SandRidge Energy in a transaction valued at $564m.
The transaction involves the acquisition of 1.068 shares of Midstates for each share of SandRidge.
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SandRidge Energy will own a 60% stake, while Midstates Petroleum will own a 40% stake in the combined entity, following the merger.
Based in the US, SandRidge Energy is an oil and gas company with interests in the Mid-Continent and Rockies regions of the US and is also involved in drilling activity in the Oklahoma and the North Park Basin in Jackson County, Colorado.
Midstates Petroleum Company is an independent oil and gas company also based in the US. It appointed Moelis & Company as the financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison as the legal advisor for the transaction.
The transaction, which is expected to be completed by the second quarter of 2018, will strengthen Midstates Petroleum’s oil and gas base.
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By GlobalDataOriental Energy plans to acquire Guangxi Tiansheng Port for CNY506.6m ($80.65m).
Oriental Energy is a distributor of liquefied petroleum gas and chemicals, while Guangxi Tiansheng Port is a distributor of petroleum and petroleum products.
Both companies involved in the transaction are based in China.
The acquisition is expected to strengthen Oriental Energy’s business.
