Professional M&A intelligence for the energy transition
JERA Co., Japan's largest power generator and a joint venture between Tokyo Electric Power Company and Chubu Electric Power, acquired approximately 27% of the outstanding shares of Aboitiz Power, a major power utility in the Philippines.
Hawaiian Electric Industries (NYSE - HE), the parent company of Pacific Current, announced the closing of the sale of Pacific Current's 60-megawatt Hamakua Energy Plant on Hawai'i Island to a subsidiary of Harbert Management Corp.
Tokyo Gas America Ltd., a subsidiary of Tokyo Gas, decided to acquire all shares of Rockcliff Energy II, a portfolio company of Quantum Energy Partners, through its ownership interest in TG Natural Resources.
BP plc completed the acquisition of Archaea Energy Inc. for an enterprise value of approximately $4.1 billion, including approximately $800 million of net debt. Houston-based Archaea Energy is the largest renewable natural gas (RNG) producer in the United States, operating 50 RNG and landfill gas-to-energy facilities and producing approximately 6,000 boe/d of RNG.
Chevron completed its acquisition of Renewable Energy Group (REG) for $61.50 per share in an all-cash transaction valued at about $3.15 billion, or approximately $2.75 billion net of cash acquired. REG was the largest U.S. producer of biodiesel and a producer of renewable diesel.
Verdalia Bioenergy, the Goldman Sachs-backed European biomethane platform, completed the acquisition of seven operating renewable natural gas plants in Italy. The portfolio consists of 7 plants located in the province of Brescia, with an approximate combined production capacity of 190 GWh of biomethane derived from a processing capacity of 350,000 tonnes of raw materials per […]
Vermilion Energy Inc. completed the acquisition of privately-held Westbrick Energy Ltd. for about C$1.08 billion. The acquired assets are located in the Deep Basin of west-central Alberta and include over 700,000 net acres, with current production of approximately 50,000 boe per day (60% liquids).
TotalEnergies SE acquired the interests of OMV(50%) and Sapura Upstream Assets (50%) in SapuraOMV Upstream, an independent gas producer in Malaisia. The deal is valued at $903 million. SapuraOMV's main assets are its 40% operated interest in block SK408 and 30% operated interest in block SK310, both located offshore Sarawak in Malaysia.
DNO ASA, the Norwegian oil and gas operator, acquired 100 percent of the shares of Sval Energi Group AS from HitecVision for a cash consideration of $450 million based on an enterprise value of $1.6 billion.
Patterson-UTI Energy (NASDAQ:PTEN) completed the acquisition of Ulterra Drilling Technologies, L.P., a provider of specialized drill bit solutions, for $370 million of cash and 34.9 million shares of Patterson-UTI common stock.