Patterson-UTI Energy has agreed to acquire Multi-Shot (trading as MS Energy Services) from Denham Capital Management and NGP Energy Capital Management for approximately $215m.
The purchase consideration will be funded by Patterson-UTI through a combination of cash and equity.
Multi-Shot offers directional drilling, downhole performance motors, directional surveying, measurement while drilling (MWD), and wireline steering tools for the oil and gas industry.
Vinson & Elkins has been appointed as legal advisor to Multi-Shot, Denham Capital, and NGP Energy Capital for the transaction.
Scheduled for completion in the fourth quarter of this year, the transaction will allow Patterson-UTI to expand its service portfolio.
Petroleo Brasileiro (Petrobras) is seeking a potential acquirer to dispose 90% stake in Transportadora Associada de Gas (TAG).
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By GlobalDataTAG owns and operates an approximately 4,500km-long gas pipeline system with a transport capacity of 2,638 million cubic feet a day.
Engie (formerly GDF SUEZ Trading) and institutional investors have purchased 4.5% stake in the company from the French Government for $1.82bn.
The government holds 24.1% of the capital and 27.6% of the voting rights in Engie.
The proceeds from the sale are intended to be used by the French Government for the planned innovation fund.
