Archive

Article length: 447 words

Ophir buys Salamander

Ophir Energy is buying Salamander Energy, giving it additional acreage in south-east Asia. Salamander was co-founded in 2005 by Ophir managing director Nick Cooper, and Ophir said its portfolio offered an attractive balance to its existing African operations.The all-share deal values London-based Salamander at £314m ($528m). On completion, Salamander shareholders will own approximately 20.9% of Ophir, which has already announced two Asian acquisitions this year. Ophir was awarded a block from Myanmar’s 2013 licensing round, and a deal with Niko Resources in October 2014 gave it interests in seven licences in Indonesia.

Go to full article

Credit value: 4

African Energy Gulf States Newsletter