Analysing the biggest offshore operations deals in the three months to August
There were 45 deals recorded involving top offshore oil and gas industry operations and technologies companies in the three months to August.
There were 45 deals recorded involving top offshore oil and gas industry operations and technologies companies in the three months to August with a number of high-profile acquisition, private equity, asset transaction and venture financing deals.
That’s according to GlobalData’s Financial Deals database, which tracks market activity across a variety of sectors and deal types.
The deals below only include those that have been completed – so excludes rumours or those that have been agreed but not yet executed.
The figures, which cover the top offshore oil and gas industry operations and technologies companies, show the market in the US to be the most active, with 19 deals taking place over the last three months. That was followed by Russia, which saw four deals.
Kinder Morgan Completes Acquisition Of Kinetrex Energy From Parallel49
Kinder Morgan Inc, an energy infrastructure company, has completed the acquisition of Kinetrex Energy, a supplier of liquefied natural gas (LNG) in the Midwest and a rapidly growing player in producing and supplying renewable natural gas (RNG) under long-term contracts to transportation service providers, from an affiliate of Parallel49 Equity, a private equity investment firm, for a purchase consideration of $310 million.
The acquisition includes two small-scale, domestic LNG production and fuelling facilities, a 50% interest in a landfill RNG facility, and three additional RNG facilities with signed commercial arrangements.
J.P. Morgan Securities LLC acted as a financial advisor to Kinetrex Energy, while Paul Hastings LLP acted as a legal advisor to Parallel49 Equity and Kinetrex Energy in the transaction.
Tatneft completes acquisition of Ekopet
Tatneft, a vertically integrated oil and gas company, has completed the acquisition of Ekopet Group of Companies, a polyethylene terephthalate (PETF) producer, from Trust Bank for a purchase consideration of RUB6.45bn, in an auction.
Ekopet Group of Companies include Ekopet, Expolimers Trading LLC and Balttechprom LLC as well as claims against the companies. Ekopet is a polyethylene terephthalate (PET) plant of the trademark EkoPet for production of PET bottles, cans and other food grade packaging, as well as various products for industrial and household use. The nominal rated capacity of the PETF plant is 220,000 tons per year.
ZENIT Bank acted as M&A consultant to Tatneft in the transaction. The transaction enables Tatneft to implement its plans to development its petrochemical business most effectively and to achieve its goals of reducing greenhouse gas emissions along the entire value chain.
Azat Bikmurzin, director of the Tatneft oil/gas and petrochemical complex said, “We are glad that such a modern enterprise will become a part of the Tatneft Group. The Ekopet products are in great demand and hold a stable position in the market. We are confident that this asset will allow Tatneft to fill the missing link in the chain from the producer of raw materials to the end consumer and also to use this ground for the further development of the company's petrochemical business."
Tatneft acquires TNG-Algis from TNG-Group
Tatneft also acquired TNG-Algis, a provider of services for carrying out geological and production geophysical works in structural, exploration and production wells, from TNG-Group for purchase consideration of RUB1,190.6m.
The acquisition includes production bases, equipment, hardware complex, special equipment, vehicles, a client base and a portfolio of existing contracts.
The transaction will enable Tatneft to improve the operations efficiency at its fields being commissioned, production management and development planning processes.
Nail Maganov, general director of Tatneft said, “Tatneft is actively developing service projects for drilling, well workover, including those outside Tatarstan. The acquisition of an oil service enterprise will ensure a synergistic effect, will help building a service ecosystem, and will increase the value of Tatneft at the expense of coming into new markets for offering the geophysical well survey services. For our company this means an additional expansion of competencies, business diversification, as well as a decrease in dependence on contractors.”
Atlas Copco acquires CPC Pumps International
Atlas Copco AB, a Sweden-based manufacturer of compressors, vacuum solutions, generators, pumps, power tools and assembly systems, has acquired CPC Pumps International Inc, a Canada-based engaged in the design, manufacturing, and servicing of centrifugal pumps.
ChampionX acquires Scientific Aviation
ChampionX Corporation, a pumping equipment company that provides artificial lift solutions, automation and optimisation equipment, and drilling technologies for the upstream and midstream oil and gas industry, has acquired Scientific Aviation Inc, a company that offer plane-based measurements of air pollutants and greenhouse gases. Both the companies are based in the US.
GlobalData has compiled a list of top MNCs based on revenue. Any top companies that did not have a subsidiary were removed from the list. The latest company annual reports (2019 and 2020, where available) and websites were analysed for a total of 2,188 companies.
For a subsidiary to be included, the parent company had to have a majority ownership/control in the subsidiary. Affiliates, associates, joint operations and joint ventures were included as long as the ownership criteria was met. Subsidiary information was captured at a country level. Country names were standardised. In total, 216,898 subsidiaries were captured.