Pride International Inc., Houston, (NYSE: PDE) has acquired the remaining 9% interest in its Angolan joint-venture company from a subsidiary of Angolan national oil company Sonangol for US$45 million in cash. The venture owns the two deepwater drillships Pride Africa and Pride Angola and the 300-foot independent-leg jackup rig Pride Cabinda, and holds management agreements for the deepwater platform rigs Kizomba A and Kizomba B. The acquisition increases Pride's ownership in the three drilling units and the two management agreements to 100%.
Recommended Reading
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Murphy Shares Drop on 4Q Miss, but ’25 Plans Show Promise
2025-02-02 - Murphy Oil’s fourth-quarter 2024 output missed analysts’ expectations, but analysts see upside with a robust Eagle Ford Shale drilling program and the international E&P’s discovery offshore Vietnam.
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Geologist James Parr Joins Ring as EVP of Exploration, Geosciences
2024-11-26 - James Parr joins Ring Energy with over 30 years of experience as a petroleum geologist and leader in multiple energy organizations.
Michael Hillebrand Appointed Chairman of IPAA
2025-01-28 - Oil and gas executive Michael Hillebrand has been appointed chairman of the Independent Petroleum Association of America’s board of directors for a two-year term.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.