M&As this week: Kinzer Drilling, Oiltanking

Kinzer Drilling Company has entered an agreement with Alpha Natural Resources to acquire New River Energy Corporation.

New River Energy owns 120 producing natural gas wells in five counties across central West Virginia, US.

The acquisition will allow Kinzer Drilling to strengthen its business operations.

Oiltanking has paid $6m for the acquisition of an additional 35% joint venture stake in Exir Chemical Terminal PJSCo from Odfjell SE.

Exir is the operator of a terminal in the Petrochemical Special Economic Zone (PETZONE) of Bandar Imam Khomeini, Iran. The terminal has 18 tanks along with a combined storage capacity of 22,000m³ of liquid petrochemicals.

Oiltanking owns 70% stake in Exir Chemical Terminal, as a result of the transaction.