Superior Drilling Products Inc has announced a public offering for the issue of five million shares. The company has appointed Roth Capital Partners LLC as book-running manager and Wunderlich Securities Inc as underwriter for the offering.

The underwriter has a 30-day over-allotment option to buy up to an additional 750,000 shares.

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Proceeds from the deal are intended to be used by the company to repay certain liabilities and for general corporate functions.

"The licences hold estimated recoverable resources of 241 million metric barrels of oil equivalent."

Statoil ASA has signed a deal with Tullow Oil plc to acquire stakes in four oil and gas exploration licences in the Norwegian Continental Shelf (NCS).

The licences hold estimated recoverable resources of 241 million metric barrels of oil equivalent (Mmboe). The deal will allow Statoil to expand its oil and gas assets portfolio in the NCS.

Woodside Petroleum Limited has agreed to acquire interests in undeveloped gas fields in Scarborough area in Carnarvon Basin, offshore Australia, from BHP Billiton Limited.

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The deal implies a cash consideration of up to $400m, which will be paid by Woodside in the form of a $250m initial payment and a contingent payment of $150m.

The fields hold contingent resources of 8.7 gross trillion cubic feet of gas. Scheduled for completion by the end of this year, the deal will support Woodside’s growth strategy.