Harbour Energy’s Post

📌Harbour Energy acquires Wintershall Dea for $11 billions. Completion of the acquisition is expected to occur in fourth-quarter 2024. ℹ️Harbour Energy has reached an agreement with BASF and LetterOne the #shareholders of Wintershall Dea AG, for the #acquisition of substantially all of Wintershall Dea’s #upstream #assets for $11.2 billion. ➡️The target portfolio includes all of Wintershall Dea’s upstream assets in #Norway, #Germany, #Denmark, #Argentina, #Mexico, #Egypt, #libya and #algeria as well as Wintershall Dea’s #co2 #capture and #storage (CCS) licences in #Europe. Wintershall Dea's Russian assets are excluded. ➡️More details ▶︎ https://lnkd.in/d83mn_74

SEFE TO BECOME SOLE SHAREHOLDER OF WIGA 🔹 Transaction strengthens SEFE’s role for secure and reliable #energysupply in Germany and Europe, as well as boosting its #hydrogen expertise. 🔹 Networks have a key role to play for European energy security and for the green #energytransformation. 🔹 Transportation infrastructure is a pivotal part of the future #hydrogen value chain. SEFE Securing Energy for Europe GmbH is to become the sole shareholder of WIGA, acquiring the 50.02 per cent shareholding held by joint venture partner Wintershall Dea. WIGA owns the #gasnetwork operators GASCADE Gastransport GmbH and NEL, which together operate #networks in Germany with a combined length of around 4,150 kilometres. The transaction is still subject to merger and subsidy control approval by the European Commission.   👉 Read the full press release here: https://lnkd.in/eU47Ffik #SEFE #SustainableEnergy #Hydrogen #h2 #LowCarbon #energytransformation #HBWasserstoff

Harbour Energy PLC (LSE:HBR) reported production in line with expectations, whilst its financial results statement reflected a business in steady state ahead of its next phase of consolidation. Harbour, which was formed in 2021 through the combination of London-listed Premier Oil and private equity North Sea firm Chrysaor, is now working to close its deal to acquire $11.2 billion of upstream assets from Germany’s Wintershall. Adding substantial operations in Norway, Germany, Argentina and Mexico to its existing portfolio of assets in the North Sea, Asia and Africa, the deal promises to create “one of the world's largest and most geographically diverse independent oil and gas companies” The company, today, noted “significant progress” toward closing the transaction.   It expects to publish a prospectus and hold necessary shareholder meetings in the second quarter, and it is progressing through its checklist... More at #Proactive #ProactiveInvestors http://ow.ly/goTF105kUtH

#BreakingNews: Wintershall Dea's E&P business, excluding Russia-related activities, has been transferred to Harbour Energy as of 3 September 2024. The transfer includes production and development assets as well as exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark (excluding Ravn) as well as Wintershall Dea’s carbon storage licenses (CCS). This significant step transforms Harbour Energy into one of the world’s largest and most geographically diverse independent oil and gas companies. #EnergyConnects #energynews #energyindustry #news #oott #oilandgasindustry

Energy Update: 26 July 2024 Helmerich & Payne to buy KCA Deutag for $1.97 billion to boost Middle East presence (Reuters)  Helmerich & Payne Inc. will acquire Britain's KCA Deutag International for $1.97bn, making the combined company one of the biggest rig providers in the Middle East, the companies said. Oilfield service providers have, in recent quarters, bet on growth overseas as well as on deepwater projects to offset weak demand in North America. The deal will increase H&P's Middle East rig count to 88 from 12. The transaction, which will be funded with cash on hand and new borrowings, is expected to close before the end of the year.    Join the energy leaders — book your stand today: https://lnkd.in/dZmREi29 

Alliances are fundamental to how Aker BP plan and execute our projects. Most of our Alliances have lasted more than 5 years and what a journey it has been. Loads of learning for the better and our results clearly demonstrate that this is essential in order to improve performance and increase productivity. The ongoing energy expansion (I like to call it that because we need more of all energy, not one or the other in the years to come) will require new ways of working. I believe most of us understand that renewables are the future, but until such time renewables are able to entirely replace oil and gas, we need hydrocarbones. Aker BP is an oil and gas company and with time our market will be more marginal than today. Working close with our suppliers through Alliances will enable us to stay competitive, not only for tomorrow, but for the future, enabling the energy expansion. #FirstOrBest; #AlliancesareAkerBP https://lnkd.in/dwEAGwfC

EnLink Midstream and ExxonMobil to Expand Carbon Capture and Sequestration Efforts EnLink Midstream, LLC is exploring opportunities to expand Exxon Mobil Corp.'s carbon capture and sequestration (CCS) efforts beyond southeast Louisiana Mississippi River Corridor into several additional Gulf Coast areas. The companies are also reassessing the Pecan Island Area project's near-term role, potentially prioritizing other joint opportunities. The project involves a plan to build a $200-million carbon dioxide (CO2) dehydration and compression unit at its Donaldsonville facility in Louisiana. EnLink and ExxonMobil aim to provide cost-effective CCS solutions for CO2 emitting companies in areas including Houston Ship Channel, Lake Charles, Port Arthur and Beaumont. After acquiring Denbury Inc., ExxonMobil now owns the largest CO2 pipeline network in the USA. https://lnkd.in/gM9dZipm...

🇦🇺 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮’𝘀 𝗦𝗮𝗻𝘁𝗼𝘀 𝗱𝗲𝗹𝗮𝘆𝘀 𝗙𝗜𝗗 𝗼𝗻 𝗗𝗼𝗿𝗮𝗱𝗼 𝗼𝗶𝗹 𝗳𝗶𝗲𝗹𝗱 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 Australian independent Santos will now target a 2025 final investment decision (FID) on its 80pc-owned Dorado oil project in Western Australia (WA), after deferring it in 2022 and last year indicating a 2024 decision. Dorado's 10pc stakeholder Australian independent Carnarvon Energy said the joint venture (JV) will evaluate a lower capital expenditure (capex) option by reducing capacity below the previously guided 75,000-100,000 b/d and phasing development wells, targeting front-end engineering and design re-entry later in 2024 "once the JV secures the best option vessel or hull". By Tom Major: https://okt.to/NJst6Z? #ArgusMedia #oilandgas #oilproduction #gasmarkets #oildemand

Very proud to be part of the successful completion of one of the largest single-asset continuation deals in Africa, with Copperbelt Energy Corporation Plc (CEC) as the cornerstone asset. This significant achievement was made possible with the backing of Norfund, a leading development finance institution, and Kommunal Landspensjonskasse gjensidig forsikringsselskap (KLP), Norway's largest pension fund, as well as acquisition debt financing from Standard Bank of South Africa. Since our initial investment in CEC in 2014, Affirma Capital has assisted CEC in navigating numerous complex challenges by leveraging our significant shareholding and our active-collaboration strategies, thereby greatly enhancing the company's value over time. CEC, a leader in the transmission of power primarily from sustainable sources in Zambia, has been instrumental in promoting green energy in the region, underscored by its commitment to commissioning additional solar power projects. The continuation deal enables us to further contribute to CEC's sustainable growth and exemplifies the potential of Private Equity in managing assets in Africa over the long-term, while collaborating with like-minded investors and ensuring the return of capital at attractive rates to investors who may require an exit. Thank you Mark Davis, Lisa Huun Thomsen, Christian Wright, Arnold van Wyk, Tseke Maserumule, Ceaser Siwale, Pirasath Parthipan and everyone who contributed to this achievement. #Africaprivateequity #Continuationdeal #Renewableenergy #Sustainability #impactinvesting #Africa

Via: MarketOpen Managing Director Kane Marshall discusses key updates regarding the the Red Earth divestment. Key topics include: ➡️Agreement Enhancements: Updates on the amended terms with Blue Sky Resources and the anticipated benefits for Australian Oil. ➡️Interim Payment Details: Insights into the A$750,000 interim payment and its implications for the company's operations. ➡️ Strategic Retention of Sacgasco AB Ltd: The rationale behind retaining the Canadian subsidiary and how it aligns with the company's strategic objectives. ➡️ Revised Effective Date: The impact of changing the divestment's effective date to 30 June 2024 on financial planning and tax considerations. #AOK #AustralianOilCo #Energy #Gas