Professional M&A intelligence for the energy transition
Halliburton Company completed the acquisition of Optime Subsea, a Norwegian provider of subsea well intervention and installation technologies. The transaction expands Halliburton's subsea services offering with Optime's CITS (Compact Intervention Tubing Severance) and ROCS (Remotely Operated Controls System) technologies, addressing growing demand for cost-effective subsea well access globally.
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.
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.
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.
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).
Aker BP ASA completed its combination with Lundin Energy's oil and gas business in a cash-and-share transaction valued at approximately $13.9 billion, creating one of the largest publicly listed pure-play E&P companies in Europe. Under the deal, Lundin shareholders received $2.22 billion in cash plus 271 million Aker BP shares.
Ithaca Energy plc completed the acquisition of JAPEX UK E&P Limited from Japan Petroleum Exploration Co., Ltd. (JAPEX) for approximately $193 million in cash. The deal added non-operated interests in the Seagull and other UK North Sea fields, complementing Ithaca's existing UKCS portfolio.
Harbour Energy announced the acquisition of the Wintershall Dea asset portfolio, comprising substantially all of Wintershall Dea AG's upstream assets.
DIF Capital Partners, a global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI, acquired a 51% stake in ib vogt GmbH, a developer of utility-scale PV solar.
Iberdrola completed the $6.2 billion sale of approximately 8,400 MW of gas-fired combined cycle plants in Mexico to Mexico Infrastructure Partners (MIP) in February 2024. The divestiture aligned with Iberdrola's strategic focus on regulated networks and renewables.