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InterOil Corporation (IOC)

  • Jun. 30, 2014, 3:05 AM
    • InterOil (IOC) will sell its Papua New Guinea oil refinery and petroleum products distribution business to Puma Energy for $526M, in order to put a greater focus on its natural gas business.
    • "Our upstream and LNG business has become core to the company's growth and, as a result of the success we have had in discovering and monetizing gas, the time is right to focus on this part of our business," says InterOil COO Jon Ozturgut.
    | Jun. 30, 2014, 3:05 AM | Comment!
  • Mar. 26, 2014, 4:02 AM
    • Total (TOT) has agreed to acquire a 40.1% holding in the Elk-Antelope gas field in Papua New Guinea (PNG) from InterOil (IOC) for $1.62-3.5B, depending on how much gas is found.
    • Total was originally going to buy 61.3%, but the amount was reduced after Oil Search (OISHF, OISHY) purchased a 22.8% interest in the reserves earlier this month. InterOil will retain 35.5%
    • Total will pay $401M up front and the rest in later installments based on certain factors. (PR)
    | Mar. 26, 2014, 4:02 AM | Comment!
  • Dec. 6, 2013, 8:18 AM
    • InterOil (IOC) is halted after falling 21% premarket on news of the sale of a 61.3% stake in its Papua New Guinea gas fields to Total (TOT) for as much as $3.6B, as the clarity of the deal is questioned.
    • The press release issued by IOC reads little like the one issued by TOT: Total says depending on the results of the delineation of the Elk and Antelope gas fields, "this could lead to a final investment decision by 2016 for the development of the fields and the construction of a liquefaction plant located onshore on the Gulf of Papua."
    | Dec. 6, 2013, 8:18 AM | 5 Comments
  • Dec. 6, 2013, 5:38 AM
    • Total (TOT) has agreed to acquire a 61.3% holding in InterOil's (IOC) Papua New Guinea natural-gas fields for as much as $3.6B as part of a plan to develop the reserves.
    • Total will pay $613M up front, with the extra money dependent on the size of the resource and a final investment decision on building an LNG export facility.
    • Should the Papua New Guinean government and landowners exercise rights to acquire a 22.5% interest in the project, Total will end up with a 47% holding and InterOil 30%. (PR)
    | Dec. 6, 2013, 5:38 AM | 1 Comment
  • Aug. 20, 2012, 11:07 AM
    It's not a question of if but when Royal Dutch Shell (RDS.A) makes a bid for InterOil (IOC -1%), Resourcearb writes. Shell's options have dwindled, he says, and its tactics have become more transparent, "which should give InterOil bulls more confidence that the likely next move for Shell is a takeover attempt." IOC slid 14% last week on chatter of waning interest from Shell.
    | Aug. 20, 2012, 11:07 AM | 1 Comment
  • Jul. 26, 2012, 9:02 AM
    InterOil (IOC) +4.9% premarket on chatter that Royal Dutch Shell (RDS.A) is exploring a bid for IOC's Papau New Guinea exploration licenses.
    | Jul. 26, 2012, 9:02 AM | Comment!
Company Description
InterOil Corp together with its subsidiaries engages in the exploration and production of oil and gas properties in Papua New Guinea and its surrounding regions.