Chevron Corporation has announced that it has entered into a definitive agreement with Anadarko Petroleum Corporation (NYSE: APC) to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share.
Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, signed an agreement yesterday to sell its 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Delek CT Investment LLC, a subsidiary of Delek Group Ltd (Delek). The total consideration for this deal is $965 million in cash.
The West African offshore rig market has been one of the hardest hit during the oil price downturn. Once a region that attracted premium units and demanded some of the highest rig day rates – some rigs commanded over $600,000 – it quickly descended into an area with a glut of stacked rigs and a demand drought.
The offshore market is set for a bumper year with 83 greenfield FIDs expected, totaling $115 billion in infrastructure, equipment & associated drilling services. This includes $19.2bn on FPSO/FLNG awards – of which $5.5bn are lucrative newbuild FPSO opportunities.
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