Finance/Companies news briefs, Jan. 16
Canadian Natural Resources - Tradewinds Oil & Gas International - PT. Radiant Energi Sukatani - PT. Radiant Ramok Senabing - Tom Brown Resources - Stellarton Energy - Ultra Petroleum - Pendaries Petroleum - National-Oilwell - Maritime Hydraulics (Canada) - Ryan Energy Technologies USA - Smith Services Directional Group - and more
Canadian Natural Resources Ltd. has acquired, in an Alberta land sale, oil sands acreage adjacent to its Mic Mac oil sands project north of Fort McMurray. The leases bring its acreage in the area to 96,259.
Tradewinds Oil & Gas International Ltd. has acquired control of the stock and assets of PT. Radiant Energi Sukatani of Jakarta. Terms were not disclosed. PT. Radiant Energi owns a 60% interest in a technical assistance contract with Indonesian state oil company Pertamina. The contract covers the nonproducing Sukatani gas field in West Java. Tradewinds also owns the remaining 40% through Gulfstream Resources Sakatani Ltd.
Tradewinds Oil & Gas International Ltd. has acquired control of the stock and assets of PT. Radiant Ramok Senabing of Jakarta. Terms were not disclosed. PT Radiant Ramok Senabing owns a 60% interest in a technical assistance contract with Indonesian state oil company Pertamina. The contract covers the nonproducing Ramok and Senabing oil fields in South Sumatra. Tradewinds also owns the remaining 40% through Gulfstream Resources Ramok Senabing Ltd.
Tom Brown Resources Ltd., a wholly owned subsidiary of Tom Brown Inc., Denver, Colo., has acquired 21.8 million shares, or 97.2%, of Stellarton Energy Corp. The takeover was valued at $94.8 million, including estimated net debt of $14.5 million (OGJ Online, Dec. 14, 2000).
A New Brunswick court has approved Ultra Petroleum Corp.'s acquisition of Pendaries Petroleum Ltd. The deal was proposed last year (OGJ Online, Oct. 18, 2000).
National-Oilwell Inc. has completed the acquisition of Maritime Hydraulics (Canada) Ltd. for $25 million (Can.).
Ryan Energy Technologies USA Inc. has acquired the business and operating assets of Smith Services Directional group, a business unit of drilling technology company Smith International Inc., for $10 million. The acquisition does not include working capital. The Directional Group generated $10.5 million in revenue for the 9 months ended Sept. 30. Ryan is the US arm of Ryan Energy Technologies Inc., Alberta.
Consafe Engineering UK Ltd. decided to close its Burntisland construction yard in Fife, Scotland, after the hoped-for upturn in the North Sea fabrication market failed to materialize. The Prosafe ASA Group subsidiary will focus on its core business of turnkey accommodation modules and associate products.
Benton Oil & Gas Co. extended the expiration dates on its $11 warrants 1 year to Jan. 18, 2002.