Tekmar Group has entered an agreement to acquire Subsea Innovation for approximately £4m ($5.14m).
Following the acquisition, Subsea Innovation will continue to operate under the same name but as a separate legal entity.
Based in the UK, Subsea Innovation is involved in the design, manufacture and supply of engineered equipment and technology for the offshore oil and gas industry, while Tekmar is engaged in the design, manufacture, supply and installation of cable and SURF protection systems for the offshore oil and gas industry.
The acquisition is expected to strengthen Tekmar Group’s business operations.
Kosmos Energy has entered an agreement to acquire Deep Gulf Energy (DGE) from First Reserve and other shareholders for $1.225bn.
Under the agreement, Kosmos will pay $925m in cash through borrowings under its existing credit facilities and $300m through the issuance of Kosmos common shares.
The transaction is expected to be closed in Q4 2018, subject to regulatory approvals.
Based in the US, Deep Gulf Energy is an oil and gas exploration and production services provider, while First Reserve Corporation is a US-based private equity firm and Kosmos Energy is an exploration and production company based in Bermuda.
The acquisition will enable Kosmos to strengthen its deep-water asset portfolio and business operations.
Santos has acquired Quadrant Energy $2.15bn.
The transaction was funded using existing cash resources and $1.2bn new committed debt facilities.
Based in Australia, Santos is engaged in the exploration and production of hydrocarbons, while Quadrant Energy is an oil and gas exploration, development and production company.
The transaction is part of Santos’ growth strategy and will enable the company to become Australia’s leading supplier of natural gas.