M&As this week: Range Resources, Caspian Sunrise, Diversified Gas & Oil

Range Resources has agreed to acquire an additional 20% stake in UK-based oil and gas exploration company Strait Oil and Gas from Red Emperor Resources NL.

The transaction will increase Range Resources’ stake in Strait Oil and Gas to 65%.

Range Resources is a US-based oil and gas exploration and production company, while Red Emperor Resources NL is an Australian oil and gas exploration company.

The acquisition will expand Range Resources’ operations in Georgia.

UK-based oil and gas exploration and production company Caspian Sunrise plans to acquire a 100% stake in 3A Best Group for $24m.

3A Best Group owns 1,347km² of contract area near the port city of Aktau in the Mangystau Province, Kazakhstan.

Caspian Sunrise will issue 148 million shares priced at £0.12 ($0.17) a share to fund the acquisition.

The acquisition will expand Caspian Sunrise’s market operations in Kazakhstan.

Diversified Gas & Oil has signed an agreement to acquire Alliance Petroleum Corporation, a subsidiary of Lake Fork Resources Acquisition Corporation, for £66.9m ($95m).

Based in the US, Diversified Gas & Oil is an oil and gas operator, while Alliance Petroleum Corporation, also based in the US, is a privately owned independent oil and gas company.

The acquisition will strengthen Diversified Gas & Oil’s market operations.