2013-01-04 15:34:44 - Tullow Oil to Acquire Spring Energy from HitecVision for US$372MM to Expand its Oil and Gas Exploration Portfolio in the North Atlantic Region - Deal Analysis - a new market research report on companiesandmarkets.com
Tullow Oil to Acquire Spring Energy from HitecVision for US$372MM to Expand its Oil and Gas Exploration Portfolio in the North Atlantic Region - Deal Analysis - Tullow Oil plc (Tullow) agreed to acquire Spring Energy Norway AS (Spring) from HitecVision Private Equity, AS (HitecVision), a private equity firm, and other investors, for a purchase consideration of US$372.3MM, which will be adjusted for working capital. The transaction has an effective date of September 1, 2012. In addition, Tullow agreed to pay a deferred contribution of up to US$300MM, contingent on the event of a commercial discovery on four specific prospects in Spring´s current drill queue.
- Rationale behind Tullow Oil planning to acquire Spring Energy from HitecVision.
- To understand the rational
behind HitecVision divesting its stake in Spring to realize its investment value.
- Geography Covered- UK.
Reasons to buy
- Develop a sound understanding about how the acquisition of Spring will enable Tullow to expand its oil and gas exploration portfolio in the North Atlantic region.
- To know more about Tullow maintaining a trend of acquisition and divestment for portfolio restructuring.
- To have an understanding of HitecVision divesting its stake in Spring to realize its investment value.
Click for report details: www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..
Browse all Energy and Utilities Market Research Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..
Browse all Energy and Utilities Company Profile Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Company- ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.