Venture Global secures $10bn binding agreements for Calcasieu Pass LNG
Venture Global’s $5.8bn Calcasieu Pass LNG construction financing received more than $10bn in binding commitments from initial coordinating lead arrangers.
Along with a $1.3bn equity investment from Stonepeak Infrastructure Partners, the funding will be used towards the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.
Stonepeak signed an agreement to invest in the project in May.
Callon Petroleum to acquire Carrizo for $3.2bn
Independent energy company Callon Petroleum signed a definitive agreement to acquire US-based oil and gas production firm Carrizo in a $3.2bn deal.
The acquisition is set to create a new combined oil and gas company with scaled development operations across its assets in the Permian Basin and Eagle Ford Shale production areas.
Under the transaction, Callon will pay 2.05 of its shares for each Carrizo share, representing $13.12 per Carrizo share as of 12 July.
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By GlobalDataMurphy Oil closes sale of Malaysia operations to PTTEP for $2.035bn
Murphy Oil completed the previously announced divestment of its deepwater oil and gas assets in Malaysia to a subsidiary of PTT Exploration and Production Public Company (PTTEP) in a $2.035bn deal.
Announced in March, the acquisition will include the sale of Murphy Oil’s fully issued share capital of its two primary Malaysian subsidiaries, Murphy Sabah Oil and Murphy Sarawak Oil.
The deal is expected to add PTTEP’s sales volumes and operating cash flow once it concludes.
ADNOC and Pertamina to explore partnership in oil and gas projects
The Abu Dhabi National Oil Company (ADNOC) signed a comprehensive strategic framework (CSF) with Indonesian energy company Pertamina for the collaboration across the oil and gas value chain in the UAE, Indonesia and worldwide.
As part of the CSF, the two parties will evaluate partnership opportunities across the upstream, midstream and downstream sectors.
The projects that will see the participation of the two companies include the UAE’s upstream oil and gas sector, as well as refining and petrochemicals, LNG, LPG, aviation fuel and fuel retail opportunities in Indonesia.
Freeport LNG Train 1 reaches final commissioning stage
McDermott International and its partners Chiyoda International and Zachry announced that Train 1 of the Freeport LNG Liquefaction project had reached the final commissioning stage.
This includes the introduction of feed gas into Train 1 of the natural gas liquefaction and LNG export facility on Quintana Island in Freeport, Texas, US. The first gas marks the transition from construction to startup.
The LNG facility is expected to significantly improve energy export capabilities in the US.
India’s ONGC issues notice to auction 64 fields to private companies
India’s Oil and Natural Gas Corporation (ONGC) issued a notice that invites partners to further develop oil and gas production from its 64 marginal nomination fields in order to optimise recovery by incorporating new technologies.
According to the notice inviting offer (NIO), interested companies can participate in the international competitive bidding (ICB) process, which has been announced for 17 onshore contract areas.
The contract areas consist of 64 oil and gas producing fields with a total in-place oil and oil equivalent of gas (O+OEG) volume of 300Mt of oil equivalent.
US firm Exco Resources emerges from Chapter 11 bankruptcy
US oil and natural gas exploration company Exco Resources completed its financial restructuring process and emerged from Chapter 11 filed in January 2018.
The company reduced its leverage by more than $1.1bn and is set to proceed with $325m in committed exit financing from a new credit facility.
This will provide significant financial flexibility to Exco Resources to support its ongoing operations, as well as investment in the business.
Zion signs agreement for 3D seismic landowner permitting services
Exploration company Zion Oil & Gas signed binding agreements in Israel for 3D seismic landowner permitting and consulting services.
The company is seeking to obtain approvals from the Israeli Transportation and Communication Ministries to import the seismic equipment from Europe.
Zion CEO John Brown said. “Our planned 3D seismic program demonstrates Zion’s long-term commitment to our dedicated shareholders and to the citizens of Israel.”
