Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Expro Unites with PRT Offshore in a Landmark $106 Million Deal
10/17/2023
- Expro finalizes the acquisition of PRT Offshore, strengthening its presence in subsea well access.
- The move is set to promote PRT Offshore equipment in Europe, Sub-Saharan Africa, and Asia Pacific.
- The $106 million deal integrates deepwater offshore expertise from both entities.
Expro recently announced its acquisition of PRT Offshore. This deal enhances Expro's technological capabilities in subsea well access, especially in North and Latin America. Additionally, it promotes the expansion of PRT Offshore's equipment in Europe, Sub-Saharan Africa, and the Asia Pacific.
Michael Jardon, Expro's CEO, sees this collaboration offering considerable growth for PRT Offshore. He highlighted the combined potential to deliver better integrated offshore solutions. The entire deal, which includes Expro shares, stands at an approximate value of $106 million. RBC Capital Markets acted as the financial adviser for Expro in this transaction.
About Expro
Expro, with a legacy dating back to 1938, serves clients across the entire well life cycle, boasting a workforce of about 7,600 employees worldwide. Expro offers solutions and products to the global energy industry. The company's expansion strategy focuses on enhancing its technological footprint and offering integrated solutions, which is evident from its recent acquisition of PRT Offshore.
About PRT Offshore
PRT Offshore is a prominent offshore services provider, specializing in well completion and intervention. With its strong positioning in North and Latin America, the company's collaboration with Expro is anticipated to redefine offshore operations in multiple international markets.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Kinder Morgan Invests $1.8 Billion in South Texas Gas Infrastructure
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/202Blog_Kinder Morgan Gas Pipelines in South Texas (1).png)
Kinder Morgan's strategic acquisition of STX Midstream from NextEra is a significant move to enhance its infrastructure capabilities in South Texas. The area is witnessing an upsurge in natural gas production and demand, particularly towards Mexico and the Gulf Coast markets. The 462-mile pipeline system, which is highly contracted with an average contract length of over eight years, is expected to generate about $181 million in EBITDA for 2023.
SilverBow Successfully Completes $700MM Purchase of Chesapeake’s South Texas Holdings
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/209blog_SilverBow Successfully Completes 700MM Purchase of Chesapeake’s South Texas Holdings.png)
SilverBow Resources Inc. finished buying Chesapeake Energy Corp.'s oil and gas areas in South Texas. They agreed to this $700 million deal back in August. The deal included SilverBow paying $650 million in cash when the deal was closed. They will also pay another $50 million in cash a year later, with some usual changes in the amount. Chesapeake might get an additional $50 million later, depending on the prices of oil and gas in the future. SilverBow paid for this big purchase with the money they had, by borrowing from their credit line, and by selling more of their second lien notes.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/328_Blog_Why Are Oil Giants Backing Away from Green Energy Exxon Mobil, BP, Shell and more .jpg)
As world leaders gather at the COP29 climate summit, a surprising trend is emerging: some of the biggest oil companies are scaling back their renewable energy efforts. Why? The answer is simple—profits. Fossil fuels deliver higher returns than renewables, reshaping priorities across the energy industry.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/327_Blog_Oil Market Outlook A Year of Growth but Slower Than Before.jpg)
The global oil market is full of potential but also fraught with challenges. Demand and production are climbing to impressive levels, yet prices remain surprisingly low. What’s driving these mixed signals, and what role does the U.S. play?
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/326_Blog_USA Estimated Annual Rail CO2 Emissions 2035.jpg)
Shell overturned a landmark court order demanding it cut emissions by nearly half. Is this a victory for Big Oil or just a delay in the climate accountability movement?