The merger of Norway’s Statoil ASA and Norsk Hydro ASA will create not only the world’s largest offshore oil and gas company, but an acquisitive-minded player that is expected to wield a much bigger stick in developing the deepwater Gulf of Mexico (GOM), analysts said last week. In the past two years, the companies have spent a total of $6 billion buying up property in the GOM, and executives said last week they expect to invest more resources in the region going forward.
Norsk
Articles from Norsk
Merger of Statoil, Hydro to Plant Large GOM Footprint
The merger of Norway’s Statoil ASA and Norsk Hydro ASA will create not only the world’s largest offshore oil and gas company, but an acquisitive-minded player that is expected to wield a much bigger stick in developing the deepwater Gulf of Mexico (GOM), analysts said Monday. In the past two years, the companies have spent a total of about $6 billion buying GOM assets.
December 19, 2006
Norsk Hydro Locks In Prices for Spinnaker’s Production for Next 3 Years
Olso, Norway-based Norsk Hydro said Monday that it locked in price collars on the majority of Spinnaker Exploration’s oil and gas production for the next three years. Spinnaker’s shareholders will vote next month on whether to approve a proposed $2.56 billion buyout by Hydro, which expects to conclude the acquisition immediately after the shareholder vote (see Daily GPI, Sept. 20).
November 22, 2005
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