M&As this week: SeaOwl Group, Delek Drilling Limited Partnership, China Oil HBP

SeaOwl Group has signed a pact to acquire Well Staff S.A.S. in order to expand and improve its offerings, following which a new company called SeaOwl Energy Services will be formed by merging the target company with Fortiori and Nexource.

SeaOwl benefits such as gaining market share in technical assistance services related to oil and gas, in addition to expanding its offerings within the energy sector, through the acquisition.

Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership have initiated talks for a potential merger to streamline their operations and reduce costs.

Delek and Avner are both subsidiaries of Delek Group, and have equal interests in Tamar (15.62%) and Leviathan (22.67%) gas fields off the coast of Israel.

Following the merger, the entities will be able to manage their overlapping assets and operations effectively by streamlining their financial and managerial processes.

China Oil HBP Science & Technology Co. intends to expand its services portfolio in Iraq through the acquisition of a 40% interest in an Iraqi subsidiary of Anton Oilfield Services (Group).

A co-operative agreement has been signed by the two companies for the stake sale worth $108.03m.

The acquisition will enable China Oil HBP to offer engineering, procurement and construction (EPC) and oil production operation management services to the Iraqi subsidiary.

---

Image: Delek and Avner owns stake in Tamar (15.62%) and Leviathan (22.67%) gas fields off the coast of Israel. Photo: courtesy of Noble Energy.