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April 14, 2016

M&A this week: John Wood Group, Enerplus and Atlantic Offshore

John Wood Group plc has announced that it will be able to expand its automation and control business after completing the acquisition of Ingenious Inc.

Atlantic Offshore

John Wood Group plc has announced that it will be able to expand its automation and control business after completing the acquisition of Ingenious Inc.

Ingenious offers simulation, design, monitoring, training, planning and scheduling software solutions and consulting services to the oil and gas industry.

Enerplus Corporation has signed a definitive agreement to sell some of its non-core assets and Pouce Coupe asset in north-west Alberta, Canada, with an undisclosed company for C$95.5m ($73.49m).

Assets under the deal have proven and probable reserves of 9.1 million metric barrels of oil (mmboe) as of December 2015 and are expected to produce approximately 2,300 barrels of oil-equivalent a day (boed) in 2016.

Enerplus will use sale proceeds to reduce its outstanding debt.

Aegopodium AS has acquired majority of Atlantic Offshore AS’ operations and subsidiaries in a Nkr16.9m ($2.06m) transaction that enables the former to foray into multi-role rescue and platform supply vessel business. Aegopodium is a wholly owned subsidiary of H Ogreid & Sonner AS.

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The deal involves shares in nine subsidiaries of Atlantic Offshore, in addition to certain assets and personnel in another subsidiary Atlantic Offshore Rescue, while three of Atlantic Offshore subsidiaries will eventually file for bankruptcy.


Image: Atlantic Offshore offers rescue and platform supply vessels for oil and gas industry. Photo: courtesy of Atlantic Offshore AS.

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