M&As this week: Tecpetrol Libertador, Prospex Oil and Gas, State Oil Company of the Azerbaijan Republic

Tecpetrol Libertador and Sertecpet E&P have signed an agreement to acquire a 25% share in Servicios Libertador from Canacol Energy for $36.4m.

Servicios Libertador is the holding company of Pardaliservices, which is a joint venture and operator of the Libertador and Atacapi oil fields in northern Ecuador, while Canacol Energy is a Canadian oil and gas company.

Tecpetrol Libertador is a subsidiary of South American oil and gas company Tecpetrol International, while Sertecpet E&P is a subsidiary of Ecuador-based oil and gas company Sertecpet.

Canacol Energy plans to use the funds from the divestment to develop its exploration and development projects.

Prospex Oil and Gas has acquired a 49.9% stake in Schuepbach Energy Espania (SEE) from Schuepbach Energy International (SEI) for $2.41m through its subsidiary PXOG Murhill.

Prospex Oil is a UK-based oil and gas investment company, while Schuepbach Energy is an oil and gas company based in Uruguay.

The acquisition is part of Prospex Oil’s plans to build a strong portfolio of European onshore and offshore projects.

State Oil Company of the Azerbaijan Republic (SOCAR) has acquired Austrian petrol stations operator A1 Tankstellenbetrieb (A1) through its subsidiary SOCAR Energy Holdings.

The acquisition enables the Azerbaijan-based oil and gas company to expand its business to Austria.

Cabot Energy has agreed to acquire UK-based oil and gas company High Power Petroleum (NOP) UK (H2P UK) from High Power Petroleum (H2P) for $8.71m.

Both Cabot Energy and High Power Petroleum are oil and gas companies based in the UK.

The acquisition is expected to strengthen Cabot Energy’s business operations.