Noreco to acquire Danish licences from Chevron
2008.04.30 -
Company News
Noreco has now received all required approvals for its acquisition of a 12% interest in licence 9/06 and licence 9/95 on the Danish Continental Shelf, and the agreement entered into with Chevron in October 2007 will now be formally completed. An exploration well targeting two plays with a gross estimate of 493 million barrels of oil equivalents is scheduled to be drilled with the rig Ensco 101 by the operator Maersk this summer.
Noreco's exploration and appraisal drilling program is well under way. Currently, exploration drilling is ongoing on the Galtvort prospect 20 km west of the Draugen field in Norway. The well is operated by StatoilHydro, and results are expected in May. The next well on the programme is the Ipswhich prospect, where the operator Dong is planning to start drilling in May.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
