Announced
Completed
Financials
Tags
Single Bidder
Acquisition
petroleum
United States
Integrated Oil and Gas
Private
Domestic
Completed
Majority
Friendly
Synopsis
Block Energy, the exploration and production company focused on the state of Georgia, completed the acquisition of Schlumberger Rustaveli, a producer of petroleum, from Schlumberger, an oilfield services company. Financial terms were not disclosed. "I am delighted to announce the completion of our acquisition of SRCL from Schlumberger. It represents a truly transformational deal for Block, that enhances our current production, increases our acreage 30-fold and adds exciting new development opportunities. I would like to thank all members of our team for contributing to the successful completion of the company's largest transaction," Paul Haywood, Block Energy Chief Executive Officer.
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