Cooper Energy has announced plans to sell its 55% stake in Tangai-Sukananti KSO production license in South Sumatra Basin, Indonesia.
The license includes Sukananti, Bunian, and Tangai fields, which cover an area of 18.25km². It has an average production rate of 500 barrels of oil a day.
Upon completion of the deal, Cooper Energy will focus on the Gippsland Basin gas projects in Australia.
PT Medco Energi Internasional has agreed to raise $155.4m through the issue of 1.3bn shares in a rights offering.
Proceeds are intended to be used to repay the company's liabilities and meet working capital requirements.
Valero Energy Partners (Valero Energy) has agreed to acquire Meraux and Three Rivers' terminal services business from a subsidiary of Valero Energy Corporation (Valero) for $325m.
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By GlobalDataThe acquisition will be financed by Valero Energy through a combination of borrowings under its revolving credit facility, cash in hand, and the issuance of additional shares to Valero’s subsidiaries.
Meraux owns 24 tanks with 3.9 million barrels of storage capacity, while Three Rivers owns 62 tanks with 2.25 million barrels of storage capacity.
Evercore Group and Akin Gump Strauss Hauer & Feld are the financial and legal advisors to Valero Energy on the transaction, which is scheduled for completion on 1 September 2016.
Stone Energy Corporation plans to raise up to $350m by selling oil and gas assets in the Appalachian Basin in Northern West Virginia and Northwest Pennsylvania, US.
The assets include 75,100 acres in West Virginia and Pennsylvania, 110 producing wells, and 250 potential undrilled locations.
Lazard and Latham & Watkins are the financial and legal advisors to Stone Energy on the transaction.
Blackeagle Energy Services has completed the acquisition of certain Permian Basin assets in Texas from Brazos Rock.
The transaction supports Blackeagle Energy’s strategy to expand its presence and strengthen its existing operations in Texas.
