North Sea M&A Stays Hot, Ithaca Buys Valiant

摘要

Ithaca Energy announced Friday it will acquire fellow UK North Sea independent Valiant Petroleum for some ￡203 million ($309 million) in a cash and stock transaction that should more than double its oil and gas production this year. The deal marks the latest evidence of an upstream revival in the mature UK North Sea, where a broader range of tax allowances and sustained high oil prices have combined to raise investment and M&A activity.