Transocean (RIG) Was in Talks with U.S. for $1.5B Macondo Well Settlement; Updates on Market Outlook, Newbuilds
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Notable Mergers and Acquisitions of the Day 09/10: (PXP)/(BP)/(RDS-A) (RIG) (KSW)
September 10, 2012 10:23 AM EDTPlains Exploration & Production Company (NYSE: PXP) has entered into a definitive agreement to acquire from BP Exploration & Production Inc. and BP America Production Company (NYSE: BP) all of their interests in certain deepwater Gulf of Mexico oil and gas properties for $5.55 billion. The properties include the BP-Operated Marlin, Dorado and King Fields (collectively the Marlin Hub, 100% working interest), BP-Operated Horn Mountain Field (working interest 100%), BP-Operated Holstein Field (working interest 50%), BP non-operated Diana-Hoover Field (33.33% working interest, operated by ExxonMobil) and BP non-operated Ram Powell Field (31% working interest, operated by... More
Transocean (RIG) to Sell 37 Standard Jackups, 1 Swamp Barge in $1.05B Deal
September 10, 2012 6:29 AM EDTOn September 9, 2012, a subsidiary of Transocean Ltd. (NYSE: RIG) entered into definitive agreements with Shelf Drilling International Holdings, Ltd. to sell, in a series of related transactions, 37 Standard Jackups, including GSF Baltic, and one swamp barge. Of the 38 drilling units, 31 are operating, five are stacked and two are being reactivated.
The aggregate sales price is approximately $1.05 billion, including seller financing of $195 million, and is subject to certain working capital and other adjustments. The seller financing consists of perpetual preference shares in the parent company of Shelf Drilling International that will be... More
