COMPANY NEWS: Suncor, Petro-Canada merge in $19.3 billion (Can.) deal

Suncor Energy Inc. and Petro-Canada, both of Calgary, have agreed to merge the two companies in a $19.3 billion (Can.) transaction. The resulting company, Suncor, will have 7.5 billion boe of proved and probable reserves with existing production of 680,000 boe/d.In other recent company news: Korea National Oil Corp. and Colombia’s state-run Ecopetrol acquired Offshore International Group, Houston, whose main asset is Petro-Tech Peruana SA, for $900 million. KNOC and Ecopetrol split the purchase price equally. The third stage of the coalseam methane (CSM) alliance between Shell Exploration Co. BV and Arrow Energy Ltd., Brisbane, has been completed.Suncor, Petro-Canada mergerSuncor wi...

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