Camber Energy Eyes Acquisition of Pipeline Service and Construction Company
Camber Energy, an independent oil and gas company based in Houston, announced the execution of a revised nonbinding Letter of Intent related to its previously announced plan to acquire a midstream pipeline integrity services, specialty construction, and field services company in an all-stock transaction.
Camber’s Interim CEO Louis G. Schott said in a statement, ''We have revised the Letter of Intent based on discussions with the NYSE American. This positions both parties towards a planned closing in the next four to five weeks. Our team made a successful diligence trip this week to meet with the acquisition company’s management.”
“We are very enthusiastic about the acquisition and its potential for growth. If closed, this transaction will enable the company to leverage its available cash reserves and build shareholder value through a change in business focus to pipeline service and construction. With our planned partner, we anticipate substantial opportunities to leverage growth in the markets the pending acquisition is targeting. In fact, we are currently reviewing several acquisition targets to further grow the business,” he said.
The companies contemplate entering into a definitive agreement on or before 7 May.
The transaction will result in the shareholders of the acquired entity obtaining voting control over Camber Energy. Camber Energy plans to pursue additional acquisitions in connection with this potential transaction.
Pembina Pipeline To Acquire Kinder Morgan Canada in $4.35-Billion Deal
Calgary-based Pembina Pipeline Corp. has entered into agreements to acquire Kinder Morgan Canada Ltd. and the US portion of the Cochin Pipeline system from Kinder Morgan for a total purchase price of approximately $4.35 billion.
Swire Seabed Completes Autonomous Pipeline Inspection for Equinor
The subsea operations company said its most recent campaign is the first fully unmanned offshore pipeline inspection completed “over the horizon,” surveying up to 100 km from the shore.
Equinor Starts Up Mariner Field in North Sea
One of the largest industrial projects in the UK in recent years, Mariner marks Equinor’s first operated field on the UK Continental Shelf. It is expected to produce 70,000 BOPD at peak rates.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
16 August 2019
12 August 2019
14 August 2019
14 August 2019