Coastal Contracts Berhad has signed a memorandum of understanding (MoU) with PT Jaya Samudra Karunia (JSK) and Yudha Kurniawan Tanos to buy 49% interest in PT Jaya Samudra Karunia Gas (JSK Gas).
The $6.55m-worth deal will be funded through internally generated funds. JSK Gas is the owner of a floating LNG regasification unit (FRU).
Scheduled for completion by the end of the fourth quarter of 2016, the acquisition will allow Coastal Contracts to explore new opportunities in the downstream sector.
Canadian Energy Services & Technology Corp. (CES) has completed the acquisition of Catalyst Oilfield Services, LLC. The purchase consideration is funded through a combination of cash and common shares.
The acquisition allows CES to expand its production and specialty chemicals business in west Texas.
U.S. Silica Holdings, Inc. has agreed to pay $218.3m for the acquisition of Sandbox Enterprises LLC. The consideration will be funded by U.S. Silica through a combination of cash and equity.
Morgan Stanley & Co. LLC and Simmons & Company International are the financial advisors to US Silica and Sandbox Enterprises respectively.
Scheduled for completion on or before 30 September 2016, the acquisition will enable US Silica to offer improved logistics and technological solutions for well-site operations.