Suncor Energy UK Limited has agreed to acquire a 30% interest in Rosebank offshore oil and gas project located in the UK North Sea, from OMV (U.K.) Limited.
As part of the deal, which involves a purchase consideration of up to $215m, an initial payment of $50m will be paid by Suncor Energy at closing and the rest will be paid upon the approval of final investment decision by partners.
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The project will be owned by Chevron (40%, operator), Suncor (30%), OMV (20%) and DONG (10%), upon the completion of the deal.
Scheduled for closure in the fourth quarter of 2016, the asset acquisition will enable Suncor Energy to expand its oil and gas asset portfolio in the UK.
Faroe Petroleum plc has announced that it will raise $4.73m in a private placement. To be subscribed to by existing institutional shareholders, the placement will involve the issue of 5,143,963 shares at a price of $0.92 each.
The amount raised from the offering is intended to be used by the company for general working capital purposes.
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By GlobalDataStifel Nicolaus Europe Limited and RBC Capital Markets, LLC are the underwriters to Faroe Petroleum for the private placement.
Mitra Energy Inc., through its wholly-owned subsidiary Mitra Energy (Vietnam 05-1) Pte Ltd., has agreed to acquire a 30% working interest (WI) in the Blocks 05-1b and 05-1c Production Sharing Contract (Block 05-1 PSC), from Teikoku Oil (Con Son) Co., Ltd (Teikoku), a subsidiary of Inpex Corporation.
The deal involves a consideration of $14.3m in cash and $15.7m in contingent payments associated with the project sanction and the delivery of first sales gas.
The Block 05-1 PSC is located in Nam Con Son basin, offshore Vietnam. It will be owned by Idemitsu (35%, operator), JX Nippon (35%) and Mitra Energy (30%), upon completion of the transaction.
The Parkmead Group plc has completed the acquisition of the remaining 50% interest in Polecat and Marten oil fields in the UK Central North Sea.
Located within Licence P.2218, the Polecat and Marten oil fields have more than 90 million barrels (mmbbls) of oil in place.
Parkmead now owns 100% stake in the Polecat and Marten fields.
Gulfsands Petroleum plc has announced the private placement of 47,272,344 shares, at a price of $0.04 a share, to raise approximately $1.92m.
The placement has been subscribed to by existing shareholders in the company, namely Waterford Finance & Investment Limited, ME Investments Limited.
The amount raised from the offering is intended to be used by the company for general working capital purposes.
