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Oil Related Services and Equipment

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Total Energy reaffirms reasons Savanna shareholders should tender to offer

Tuesday, 21 Mar 2017 08:00am EDT

Total Energy Services Inc : Total Energy reaffirms reasons Savanna shareholders should tender to its offer .Total Energy Services Inc - determined that $20 million break fee contemplated by western arrangement will not be payable if current Total offer is successful.

Multiclient Geophysical: Geoex makes final extension of offer period for shares in MCG

Monday, 20 Mar 2017 11:10am EDT

Multiclient Geophysical ASA : Final extension of offer period for recommended voluntary offer to acquire all outstanding shares in Multiclient Geophysical (MCG) by Geoex Ltd . In order to give shareholders of MCG additional time to accept offer, Geoex hereby extends acceptance period under offer until 16:30 (CET) on March 29, 2017 .Geoex hereby waives its right to further extend offer to March 31, 2017.

Badger Explorer agrees to buy Dwellop AS

Monday, 20 Mar 2017 03:07am EDT

Badger Explorer ASA : Has entered into a Letter of Intent with shareholders of Dwellop as to acquire 100% of outstanding shares of Dwellop . Badger will purchase 100% of outstanding shares in Dwellop for an agreed purchase price of 190 million Norwegian crowns ($22.5 million) . Certain shareholders of company asked board to consider a proposal for certain changes including electing new board members . 60 million crowns shall be settled in cash at closing and 130 million crowns shall be settled by issuance of new shares in badger at an agreed subscription price of 0.65 crown per share . Purchase price implies EV/EBITDA and P/E transaction multiples of 3.8x and 5.0x, respectively .In 2016, Dwellop generated 209 million crowns in revenues, 46.5 million crowns in EBITDA and 38.2 million crowns in net income.

Eni CEO says will likely exit from Saipem, now not the right moment

Wednesday, 15 Mar 2017 07:33am EDT

Eni Chief Executive Claudio Descalzi tells investors' presentation in Milan: The group will likely exit from oil contractor Saipem but now is not the moment . At the moment there is absolutely no idea of selling chemical unit Versalis Further company coverage: [ENI.MI] (Reporting by Milan newsroom).

Ferrellgas expands footprint in Southern California with acquisition of Valley Center Propane

Wednesday, 15 Mar 2017 07:00am EDT

Ferrellgas Partners Lp : Ferrellgas partners lp - terms of transaction were not disclosed. . Ferrellgas partners lp - terms of transaction were not disclosed . Ferrellgas expands footprint in southern california with acquisition of valley center propane .Ferrellgas partners lp - transaction is expected to be immediately accretive.

Solstad offshore: giant offshore oil industry supply merger may be completed in H1 2017

Monday, 13 Mar 2017 12:01pm EDT

Solstad Offshore Asa says: Deep Sea Supply , Farstad Shipping and Solstad Offshore are finalizing proposal for merger and plan that their board of directors shall resolve on merger proposal and statutory merger plan by end of March 2017. . Subject to agreement on final transaction documentation and other closing conditions, proposed combination is expected to be completed during first half of 2017 .The companies, three of Norway's biggest offshore oil industry service vessel (OSV) operators announced plans to merge to create one of the biggest fleets in the sector, on Feb. 6 [nL5N1FR1CU].

Amec Foster Wheeler updates on all-share offer from John Wood Group

Monday, 13 Mar 2017 03:15am EDT

Amec Foster Wheeler Plc : Recommended all-share offer for amec foster wheeler plc by John Wood Group . Based on closing price of wood group share on 10 March, terms of combination value issued and to be issued share capital of co at approximately £2.23 billion . Combination expected to be earnings-accretive on adjusted eps basis for wood and co in first full year following completion of combination .Combination will result in Amec Foster Wheeler shareholders owning approximately 44 per cent.

Amec Foster Wheeler updates on all-share offer from John Wood Group

Monday, 13 Mar 2017 03:15am EDT

Amec Foster Wheeler Plc : Recommended all-share offer for amec foster wheeler plc by John Wood Group . Based on closing price of wood group share on 10 March, terms of combination value issued and to be issued share capital of co at approximately £2.23 billion . Combination expected to be earnings-accretive on adjusted eps basis for wood and co in first full year following completion of combination .Combination will result in Amec Foster Wheeler shareholders owning approximately 44 per cent.

Subsea 7 buys remaining 50 pct of Seaway Heavy Lifting

Monday, 13 Mar 2017 03:00am EDT

Subsea 7 Sa : Subsea 7 announces acquisition of Seaway Heavy Lifting . Today announced acquisition, from K&S Baltic Offshore (Cyprus) limited, of its 50 pct shareholding in Seaway Heavy Lifting Holding Limited . Following signing and completion, after close of business on 10 March 2017, Seaway Heavy Lifting and its subsidiaries became wholly-owned by Subsea 7 . Our investment to acquire remaining shares in Seaway Heavy Lifting, such that it becomes a wholly-owned subsidiary of our group, is aligned with our strategy to grow and strengthen our business for long-term . Consolidating Seaway Heavy lifting into the group increases our participation in renewables, heavy lifting and decommissioning services . Group will report revenues and net operating income from Seaway Heavy Lifting within a new business unit 'renewables and heavy lifting' .This new reporting structure will be reflected within group's q1 results, which will be announced on 27 april 2017.

DOF adds vessel Far Shogun to its fleet

Monday, 13 Mar 2017 02:38am EDT

DOF ASA : Said on Friday its Norwegian unit had signed agreement with Farstad Supply AS regarding purchase Far Shogun . Delivery is agreed between June 15 and July 15, 2017 . Will enter into management agreement with new owner for management and operation of vessel . Has further option to purchase the vessel at price corresponding to outstanding debt or about 50-6o pct of historical build costs .Far Shogun is Anchor handling Tug Supply Vessel and will be renamed Skandi Bergen after takeover.

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