M&As this week: Sinopec, Trican Well Service, Mammoth Energy

China Petroleum & Chemical Corp. (Sinopec) has agreed to acquire 75% stake in Chevron South Africa and 100% stake in Chevron Botswana Proprietary for a purchase consideration of approximately $1bn.

Under the acquisition, Sinopec will acquire Cape Town refinery, a lubricants manufacturing plant in Durban, a network of more than 820 Caltex branded service stations across South Africa and Botswana, and storage tanks and oil depot distribution facilities.

Sinopec has appointed Rothschild DLA Piper as legal advisor for the transaction, which will enable the former to extend its refining and fuel retailing business to South Africa and Botswana.

Trican Well Service has agreed to acquire all of the issued and outstanding shares of Canyon Services Group for a purchase consideration of $477.6m.

The transaction will involve the transfer of Trican shares to the shareholders of Canyon Services at a ratio of 1.7:1.

Trican’s stakeholders will hold 56% interest, while Canyon Services’ shareholders will own 44% interest of the combined entity, upon completion of the acquisition.

Trican has appointed RBC Capital Markets and The Bank of Nova Scotia as financial advisors, and Blake, Cassels & Graydon as legal advisor for the transaction.

Scheduled for completion in the second half of this year, the transaction will allow Trican to expand its oilfield services business.

Mammoth Energy Services has agreed to acquire Sturgeon Acquisitions, Stingray Energy Services, and Stingray Cementing from Gulfport Energy, Rhino Exploration and an affiliate of Wexford Capital.

The $133.8m deal will be funded by Mammoth Energy through the issuance of seven million shares worth $133.4m.

Scheduled for completion in May, the transaction will enable Mammoth Energy to expand and integrate its services portfolio.

Badger Explorer has signed a letter of intent (LoI) to acquire 100% interest in Dwellop.

The deal involves a purchase consideration of $22.3m, which will be funded by Badger through a combination of cash and equity.

The acquisition will allow Badger Explorer to diversify its service portfolio.

Medically Minded Holding Corp. has completed the acquisition of 66 Oilfield Services in a reverse take-over transaction.

The transaction was funded by Medically Minded through the reissue of an outstanding three million shares.

66 Oilfield Services offers custom-drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, and associated equipment to customers worldwide.

Medically Minded will change its name to Sixty Six Oilfield Services upon completion of the transaction.