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September 14, 2017

Deals this week: GulfSlope Energy, Seadrill, Shell

GulfSlope Energy Inc and Texas South Energy Inc have agreed to farm-out 75% working interest in oil and gas prospects in the offshore Gulf of Mexico, US, to an international oil and gas company.

GulfSlope Energy Inc and Texas South Energy Inc have agreed to farm-out a 75% working interest in oil and gas prospects in the offshore Gulf of Mexico, US, to an international oil and gas company. 

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The unnamed buyer will pay 90% of the exploratory costs and cash payment of $1.5m to earn interest in each prospect. The drilling programme will include at least three exploratory wells and three more wells as an option.

Upon completion of the deal, the prospects will be owned by GulfSlope (20%, operator), Texas South Energy (5%), and the purchaser (75%).

Seadrill has received approximately $1.06bn of new capital through a restructuring agreement with certain investors.

"The new capital funding includes $860m of secured notes and $200m of equity."

The new capital funding includes $860m of secured notes and $200m of equity contributed by more than 97% of its bank lenders, approximately 40% of its bond-holders and a consortium of investors led by its biggest shareholder, Hemen.

Seadrill appointed Kirkland & Ellis as legal counsel, Houlihan Lokey as financial advisor and Alvarez & Marsal as restructuring advisor for the transaction.

Shell and Petrobras have signed a memorandum of understanding (MoU) to establish a long-term collaboration to develop pre-salt fields in Brazil.

Under the MoU, Petrobras will deliver technical solutions, contract management expertise and cost-efficiency initiatives, while Shell will employ its global deepwater expertise in Brazilian assets.

The MoU also includes exchange of knowledge on safety and governance management, technical and operational solutions, contract management, logistics, well construction and air transportation safety.

Related Companies

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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