National Oilwell Varco Inc., Houston, (NYSE: NOV) plans to acquire Grant Prideco Inc., Houston, (NYSE: GRP) for approximately $7.4 billion in cash and debt. National Oilwell will pay $23.20 in cash and 0.4498 share per Grant Prideco share, a 22% premium based on closing prices as of Dec. 14. National Oilwell shareholders will own approximately 86% of the combined.
Recommended Reading
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Aker BP’s Hanz Subsea Tieback Goes Onstream
2024-04-22 - AKER BP’s project marks the first time subsea production systems have been reused on the Norwegian Continental Shelf.
E&P Highlights: April 22, 2024
2024-04-22 - Here’s a roundup of the latest E&P headlines, including a standardization MoU and new contract awards.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
Technip Energies Wins Marsa LNG Contract
2024-04-22 - Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.