LogIn LogOut

Ophir Agrees to Be Bought by Medco for $511 Mln

January 30, 2019

Alpha and Beta platforms on Bualuang Field, Thailand (Photo: Ophir Energy)
Alpha and Beta platforms on Bualuang Field, Thailand (Photo: Ophir Energy)

Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.

The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing priThe offer o

f 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec. 28, the last trading day before Medco first announced a possible offer for the London-listed company.


($1 = 0.7644 pounds)

(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)



Current News

Polarcus Scores Seismic Job in Malaysia

Polarcus Scores Seismic Job in Malaysia

DOF Subsea Bags APAC Contracts

DOF Subsea Bags APAC Contracts

Sarawak Seeks to Recoup Tax from Petronas

Sarawak Seeks to Recoup Tax from Petronas

Thunder Cranes Wins Chevron Contract

Thunder Cranes Wins Chevron Contract

KMG, Tatneft Outline Cooperation Roadmap

KMG, Tatneft Outline Cooperation Roadmap

China to Cut Renewable Power Subsidy

China to Cut Renewable Power Subsidy

CNPC Inks Two Cooperation Deals in Kazakhstan

CNPC Inks Two Cooperation Deals in Kazakhstan

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week