Search results for: InterOil

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  • 22 April 2016

    InterOil, the holder of a 35.5 percent stake in Papua New Guinea’s PRL 15, on Thursday revealed it has entered into a US$400 million senior secured capital expenditure facility.

  • 7 February 2017

    Papua New Guinea-focused player InterOil has entered into a new $470 million senior secured credit facility.  Once the conditions precedent are satisfied, the new facility will refinance and replace the existing US$400 million secured capital expenditure facility, InterOil said on Tuesday. InterOil is currently in the midst of a $2.5 billion takeover by the US-based energy […]

  • 31 March 2016

    InterOil of Papua New Guinea posted a US$241.9 million net loss in 2015, compared to a $289.8 million net profit in 2014.

  • 22 July 2016
    Business & Finance

    ExxonMobil and InterOil have announced an agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil. “This agreement will enable ExxonMobil to create value for the shareholders of both companies and the people of Papua New Guinea,” said Rex W. Tillerson, chairman and chief executive officer of Exxon […]

  • 10 October 2016

    Papua New Guinea-focused player InterOil on Monday said that the $2.5 billion takeover deal by U.S.-based energy giant ExxonMobil had been approved by a Canadian Supreme Court. The Supreme Court of Yukon approved the pending transaction after the close of business on October 7 finding that the transaction is “fair and reasonable,” InterOil said in […]

  • 22 September 2016

    InterOil Corporation on Thursday informed that its shareholders voted to approve the transaction with ExxonMobil Corporation, with 80 percent of the cast votes at the special meeting in favor of the US$2.5 billion transaction.

  • 18 July 2016
    Business & Finance

    Oil giant ExxonMobil has made a takeover bid for InterOil, a company with assets in Papua New Guinea, that is ‘superior’ to the one previously made by Oil Search.  InterOil confirmed on Monday that the unsolicited proposal to acquire 100% of the outstanding common shares of InterOil, publicly announced by the company on June 30, 2016, […]

  • 19 August 2016

    Prior to the special meeting scheduled for September 21, 2016, InterOil Corporation urged its shareholders to vote in favor of the ExxonMobil transaction.

  • 30 January 2017

    Papua New Guinea-focused player InterOil on Monday called on shareholders to vote for the proposed $2.5 billion takeover by the US-based energy giant ExxonMobil. InterOil said in a statement it urged shareholders to follow the recommendations of proxy advisory firms, Institutional Shareholder Services, and Glass Lewis & Co., by voting “FOR” the proposed transaction with ExxonMobil in connection with […]

  • 28 September 2016

    The $2.5 billion takeover of Papua New Guinea-focused player InterOil by U.S.-based energy giant ExxonMobil requires a final order by a Canadian Supreme Court, InterOil said on Wednesday. The closing of the transaction “would require issuance of the final order by the Supreme Court of Yukon no later than the close of business on Thursday, September 29,” InterOil said […]

  • 23 February 2017

    InterOil, a company with assets in Papua New Guinea, informed that the previously announced transaction with U.S. oil major Exxon Mobil has been completed. The company said on Wednesday that, under the terms of the transaction, ExxonMobil acquired all of the outstanding common shares of InterOil. InterOil shareholders received 0.5459 shares of ExxonMobil for each […]

  • 13 November 2015

    InterOil Corporation informed that the Papua LNG project attracted a lot of interest from liquefied natural gas buyers and investors. InterOil Chief Executive Michael Hession said, “Following prime ministerial meetings between Japan and Papua New Guinea, Japan is considering placing Papua New Guinea on its priority list as a supplier of LNG.” He added that in the […]

  • 13 May 2016

    InterOil, the holder of a 35.5 percent stake in Papua New Guinea’s PRL 15, said the Papua LNG project’s construction could start in 2018.

  • 13 December 2016

    InterOil and ExxonMobil have agreed to extend the deadline for the closing date for the latter’s $2.5 billion takeover of the Papua New Guinea-focused player.

  • 21 July 2016

    Oil Search has pulled out of bidding for Papua New Guinea-focused explorer InterOil, allowing U.S.-based energy giant ExxonMobil to proceed without a battle. ExxonMobil earlier this week made a $2.2 billion offer, challenging an earlier bid from Oil Search, which was backed by the French energy giant Total. Oil Search said in a statement on […]

  • 12 June 2015

    InterOil, the company developing the Elk-Antelope LNG project in Papua New Guinea, informed it has appointed Saxon Palmer as Senior Vice President, Exploration.

  • 22 December 2016

    InterOil Corporation said that according to the information provided by Total, the operator of the PRL 15 in Papua New Guinea, the Antelope-7 appraisal well has not intersected the Antelope reservoir.

  • 2 February 2017

    InterOil Corporation said that the Antelope-7 sidetrack appraisal well reached 1,989 meters at the end of January and is drilling ahead in the Orubadi formation.

  • 30 June 2016

    InterOil Corporation received an unsolicited, conditional, non-binding proposal from an unnamed third party to acquire 100 percent of the outstanding company shares.

  • 18 July 2016

    InterOil Corporation on Monday said the unsolicited proposal received at the end of June was made by ExxonMobil Corporation.

  • 26 July 2016

    Former InterOil CEO Phil Mulacek on Monday issued a comment on the recent ExxonMobil’s US$2.5 billion offer to acquire InterOil, claiming the shareholders will forego billions of dollars of value.

  • 18 November 2013

    InterOil Corporation announced the retirement from the Board of Directors of its Founder, Phil Mulacek, and the appointment of the Chief Executive Officer, Michael Hession to fill that vacancy. Mulacek built a successful integrated oil and gas company from a concept to an NYSE-listed company with a $US4 billion market capitalization. He pioneered InterOil’s exploration […]