Range Resources, through its wholly owned subsidiary Soca Petroleum, has agreed to acquire Range Resources Drilling Services (RRDSL) from LandOcean Petroleum, a wholly owned subsidiary of LandOcean Energy Services.
The deal involves a purchase consideration of $25m, including RRDSL’s debt of $19.5m.
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RRDSL owns and operates four modern onshore drilling rigs, eight production rigs, cementing equipment, tracked carriers, tanker trucks, storage tanks, a full workshop and pipe yard, and associated facilities and equipment.
The acquisition will allow Range Resources to improve its operational flexibility and reduce the operating costs involved with its upstream operations in Trinidad.
Pembina Pipeline Corporation has agreed to pay $7.1bn for the acquisition of Veresen. The purchase consideration will be paid through a combination of cash and equity.
Veresen owns interests in the Alliance Pipeline, the Ruby Pipeline, the Alberta Ethane Gathering System, a natural gas liquid (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure.
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By GlobalDataCIBC World Markets is the financial advisor for the transaction, while Blake, Cassels & Graydon and Bracewell are the legal advisors to Pembina Pipeline.
The acquisition will allow Pembina Pipeline to extend its midstream operations across North America.
Azonto Petroleum intends to acquire 100% stake in Calima Energy from Havoc Partners. The estimated value of the transaction is $0.37m, which will be funded by Azonto through the issuance of shares.
Calima Energy owns 50% interest and operatorship in Daora, Haouza, Mahbes and Mijek blocks located in Saharawi Arab Democratic Republic, Western Sahara, approximately 11% stake in TMK Montney, and an estimated 10% stake in Bahari Holding Company.
Scheduled for completion on 7 July, the transaction will allow Azonto Petroleum to expand its oil and gas business operations.
