Search results for: Escrow

101 results

A list of search results

  • 7 September 2018
    Business & Finance, Exploration & Production

    Offshore driller Pacific Drilling has made plans to offer $700 million of senior secured notes with a maturity of five years as part of its financial restructuring.

  • 28 November 2014
    Business & Finance, Operations & Maintenance

    Nautilus Minerals has announced that under the terms of its agreement with the nominee of the Independent State of Papua New Guinea, the sum of US$113 million, which was placed into escrow in May 2014, shall be released to Nautilus on completion of the agreement, which is scheduled to take place on December 11, 2014. […]

  • 27 September 2013
    Business & Finance

    FreeSeas Inc., a transporter of dry-bulk cargoes through the ownership and operation of a fleet of six Handysize vessels and one Handymax vessel, announced yesterday that it has entered into an assignment and amendment agreement with Deutsche Bank Nederland N.V., a Magna Group affiliate fund Hanover Holdings I, LLC, Crede CG III, Ltd a wholly-owned […]

  • 18 June 2013

    Panoro Energy ASA has announced that its wholly owned subsidiary Pan-Petroleum Aje Limited, has entered into a Sale and Purchase Agreement with the Nigerian company Lekoil 113 Nigeria Limited (the “Buyer”) for the sale of Panoro’s 6.502% participating interest in the OML113 license offshore Nigeria for a consideration of US$30 million. Lekoil 113 Nigeria Limited is a subsidiary company of Lekoil […]

  • 9 May 2014
    Business & Finance

    Nautilus Minerals Inc. announced that the Independent State of Papua New Guinea’s nominee for participation in the Company’s Solwara 1 Project has placed $113 million into escrow, representing the balance of the funding for the State nominee’s 15% share of the capital required to complete the development phase of the Project up to first production. On April 24, […]

  • 24 April 2015
    Business & Finance, Operations & Maintenance

    Arendal-based subsea contractor Cecon ASA has requested the City Court of Aust-Agder to declare the company bankrupt having failed to present a plan for a compulsory composition. The company has over the last four months explored options for a solution to the debt restructuring, which would have given creditors at least 25 percent dividend. In December 2014, […]

  • 24 April 2015
    Business & Finance

    Oslo-listed subsea contractor Cecon ASA has requested from a Norwegian court to declare it bankrupt having failed to present a restructuring plan. Over the last 4 months, Cecon has been subject to compulsory composition proceedings, during which time it explored all possibilities for a debt restructuring solution which would give the creditors of the company […]

  • 18 July 2007

    Sealift Ltd ( the Company), the parent company of the Dockwise group of companies (the ‘Dockwise Group’) announces that it has signed an agreement to acquire the entire share capital of Offshore Kinematics Inc (‘OKI’) and Ocean Dynamics LLC (‘ODL’). As consideration for the acquisition, the Company has agreed to issue 6.9 million new shares, […]

  • 15 November 2013
    Business & Finance

    Prospector Offshore Drilling S.A. announced today that its relevant group subsidiaries have entered into an agreement with Seadrill Jack-up Holding Ltd., a subsidiary of Seadrill Limited, for the sale and purchase of 100% of the shares and certain intercompany obligations of Prospector Rig 3 Owning Company S.à r.l., the subsidiary that is party to a […]

  • 30 January 2018
    Business & Finance

    Viking Cruises has set sights on collecting USD 900 million from secured and unsecured notes.

  • 13 February 2019
    Business & Finance, Exploration & Production

    Diamond Offshore-owned semi-submersible drilling rig Ocean Apex has been hired for the drilling of the Ironbark prospect in exploration permit WA-359-P, offshore Western Australia.

  • 21 February 2017

    Boa Shipping , a wholly owned subsidiary of Norwegian shipowner Boa Offshore, has received approximately USD 16 million as dividend on its claim against Gulmar Offshore Middle East. Namely, the claim relates back to 2009 when the charter contract for the vessel Boa Rover was cancelled and disputed by Boa Shipping. The accounting effect is […]

  • 10 August 2010

    BP announced today that it has established a trust and made a $3 billion initial deposit of the previously-announced $20 billion escrow account to pay legitimate claims arising from the Deepwater Horizon incident and the resulting oil and gas spill. “The purpose of the escrow account was to assure those adversely affected by the spill […]

  • 30 May 2016
    Business & Finance

    Bermudan investment company UIL has acquired 100% of Renewable Energy Holdings’ stake in Carnegie Wave Energy.

  • 28 October 2019
    Business & Finance

    The Norwegian offshore survey company EMGS has signed an $8 million multi-client contract with an undisclosed company.

  • 23 November 2017

    Trinity’s sale of West Coast assets offshore Trinidad & Tobago to Range did not go as planned due to lack of regulatory approvals. 

  • 19 May 2014
    Business & Finance

    Hyperdynamics Corporation  announced the settlement of litigation in London involving AGR Well Management Ltd (“AGR”). AGR provided project management services for Hyperdynamics’ subsidiary, SCS Corporation Ltd. (“SCS”), in connection with the drilling of the Sabu #1 well offshore Guinea in 2011-2012. SCS will receive U.S. $17.7 million from the escrow account previously established by the […]

  • 2 February 2015
    Business & Finance

    EnQuest PLC, an independent oil and gas exploration and production company, has withdrawn from its small investment in Tunisia. In May 2013, EnQuest announced an agreement to acquire interests in the Didon producing oil field and the Zarat permit, from Sweden’s PA Resources AB. According to EnQuest, PA Resources was to retain a partial interest in […]

  • 13 July 2012
    Business & Finance

    Wave energy developer Carnegie Wave Energy Limited (CWE) advises that major shareholder Renewable Energy Holdings Plc (REH) has sold 53% of its shareholding via off market transfer to a small consortium of Australian investors led by 88 Green Ventures (Australia). In addition to the sale of half its shareholding, REH has also agreed to distribute […]

  • 1 June 2012
    Business & Finance

    Endeavour International Corporation yesterday announced that it had completed the acquisition of the additional 23.43% working interest in the Alba field from ConocoPhillips. The Alba oil field, located in Block 16/26a, in the Central North Sea is a late Eocene reservoir that has been producing since 1994. Endeavour’s newly acquired working interest combined with its […]

  • 30 October 2012
    Business & Finance

    Houston-based Cobalt International Energy, Inc. today announced a net loss of $39 million, or $0.10 per basic and diluted share, for the third quarter of 2012, compared to a net loss of $47 million, or $0.12 per basic and diluted share, for the third quarter of 2011. Total expenditures (excluding changes in working capital) for […]

  • 11 December 2014
    Business & Finance, Operations & Maintenance

    Nautilus Minerals announced that the sum of US$113 million has today been released from escrow to Nautilus. In addition, the joint venture between Nautilus and the nominee of the Independent State of Papua New Guinea in respect of the Solwara 1 Project has now been formed. Under the terms of the agreement between the parties, […]