M&As this week: Perpetual Energy and Rubicon Oilfield International

Perpetual Energy Inc. has agreed to sell its 30% stake in Warwick Gas Storage LP, which runs a gas storage facility in east central Alberta. The transaction implies a net value of $15.44m.

The sale proceeds will help improve the liquidity of Perpetual, while reducing the risk related to the present fickle oil and gas markets.

The deal is scheduled for completion on or before 25 May 2016.

Rubicon Oilfield International has successfully completed the acquisition of Tercel Oilfield Products Limited, from Lime Rock Partners, LP.

Tercel markets drilling and well construction products in more than 50 nations worldwide.

The acquisition allows Rubicon to leverage Tercel’s expertise to grow its oilfield products and services portfolio.