Announced
Financials
Tags
oil and gas
Single Bidder
Integrated Oil and Gas
Friendly
Minority
United States
Cross Border
Acquisition
Pending
Private
Private Equity
Synopsis
Pantheon Resources, a listed oil and gas exploration and production firm, agreed to acquire the remaining 10% of Talitha Unit, an energy project, from Otto Energy, an Australia-based company, which is engaged in investment in oil and gas exploration. Financial terms were not disclosed. "We will now have a 100% working interest in the Talitha Unit at the same time we are drilling ahead with the Talitha #A well. Following completion of this transaction, Pantheon will have a 100% working interest in all of its Alaska North Slope projects. Otto was a good partner and we welcome them as a shareholder where they can continue to enjoy exposure to the Talitha project as well as to the remainder of our Alaska North Slope portfolio," Jay Cheatham, Pantheon Resources CEO.
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