Finance/Companies news briefs, Apr. 12

Bouygues Offshore � Kazakhoilkurylys � Premcor � Credit Suisse First Boston � Blackstone Group � Transmeridian Exploration � Tracer Petroleum � Barkley Finance � Hanover Compressor � Daval Industries � and more


Bouygues Offshore Group and Kazakhoil's Kazakhoilkurylys subsidiary have formed a 50:50 joint venture named Kobos to undertake turnkey oil and gas construction and service projects in Kazakhstan.

Premcor Inc., the sixth largest independent refiner in the US, has retained investment bankers Credit Suisse First Boston and Blackstone Group LP to review alternatives to maximize the value of the company. Premcor closed a refinery recently because environmental regulations made it uneconomic (OGJ Online, Jan. 18, 2001).

Transmeridian Exploration Inc. has agreed to buy the 4.5% interest of Tracer Petroleum Corp., Calgary, in the South Alibek petroleum project in western Kazakhstan, for $1.5 million in TMEI shares. Transmeridian is the operator. Tracer said the project no longer fits its strategic focus.

Houston-based Hanover Compressor Co. and wholly owned subsidiary Collicutt Hanover Services Ltd., Red Deer, Alta., have acquired Daval Industries from Dominion Energy Canada Ltd. for $4 million (Can.). Daval is a compressor fabricator and parts and service company based in Nisku, Alta. The deal was effective Apr. 5.

Infinity Inc. has acquired another 5,000 acres for its Pipeline coalbed methane project in Wyoming. The purchase price and the seller were not disclosed. The transaction brings Infinity's holdings in the area to 28,000 acres.

Canadian company Dynamic Oil & Gas Inc. has issued a normal course issuer bid for up to 1 million, or 5%, of its common shares. The bid will end Mar. 31, 2002.

APF Energy Trust has acquired 98.86% of Alliance Energy Inc. The deal was announced last month (OGJ Online, Mar. 6, 2001).

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