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Wed, Apr. 23, 3:04 AM
- Hess Corp. (HES) is selling its assets in Thailand to the country's PTT Exploration & Production (PEXNY) for $1B. The interests comprise minority stakes in onshore and offshore natural gas and condensate fields.
- The divestiture adds to $7.8B worth of assets that Hess sold in the year through late January. It also comes as other U.S. energy companies offload non-core interests as they look to focus on unconventional projects in North America.
Jul. 16, 2012, 3:14 AMThai energy company PTT extends for the third time its $1.9B offer for Cove Energy, but doesn't sweeten the terms; today is the deadline for PTT and rival suitor Shell (RDS.A) to make their final bids or else begin the first formal takeover auction for a listed British company since 2008. (previously) | Comment!
May. 24, 2012, 3:27 AMShell (RDS.A) extends its $1.8B offer to acquire Cove Energy (CNVGF.PK) to June 13, after Thailand's PTT Exploration came in with a higher $1.9B bid yesterday, sending Cove shares +11.2% in London to 249p, above PTT's 240p/share bid. Some expect Shell to pony up as much as $2.5B; Shell plays coy - it's "considering its options and will make a further announcement if appropriate." (previously) | Comment!
May. 23, 2012, 3:29 AMThailand's PTT Exploration and Production trumps Shell's (RDS.A) bid for Cove Energy (CNVGF.PK), offering £1.22B ($1.9B) for the Mozambique-focused explorer. Cove's management says it now backs PTT's bid, with the reversal coming just hours ahead of a deadline for investors to accept Shell's $1.8B offer. Shell -1.2% in London. | Comment!
Nov. 23, 2010, 7:42 AM
PEXNY vs. ETF Alternatives
PTTEP is a national petroleum exploration and production company dedicating to provide a sustainable petroleum supply to Thailand and the countries we operate as well to bring in foreign exchange earnings to our country.
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