FINWIRES · TerminalLIVE
FINWIRES

Zenith Energy to Become Majority Shareholder in Daybreak Oil and Gas

By

Zenith Energy (ZENA.OL) said Wednesday it agreed to buy an 82% stake in Daybreak Oil and Gas through its subsidiary Leopard Energy.

The energy production and development company signed nonbinding confidentiality and exclusivity agreements with Reabold Resources (RBD.L) and Portillion Capital to acquire their respective 42% and 40% interests in Daybreak.

During a 90-day exclusivity period, Zenith will conduct customary due diligence and finalize the proposed transactions. The agreements also allow the company to negotiate the purchase of additional shares from other Daybreak shareholders.

Related Articles

Equities

La Française de l'Énergie Begins Generation at Two Green Power Units in France

La Française de l'Energie (FDE.PA) on Monday commissioned two green power generation engines at its Angres site in Pas-de-Calais, France.The Angres site is among the 18 covered by the abandoned mine methane agreement between the energy production company and the French government, according to a Tuesday release. The site has a 15-year feed-in tariff contract with energy company EDF at 80 euros per megawatt-hour, indexed to inflation.The electricity production will also start shortly at the Rouvignies site, which is another site covered by the deal with the government and has a long-term contract with EDF.

$FDE.PA
Equities

Subsea 7 Bags Contract for Murphy Exploration & Production's US Gulf Project

Subsea 7 (SUBC.OL) secured a contract to work on Murphy Exploration & Production Co.'s String Music development in the US Gulf, according to a Tuesday release.Under the contract, which is worth between $50 million and $150 million, the subsea engineering company will provide engineering, procurement, construction, and offshore installation services, with some works to be done in water depths of up to 1,850 meters.Offshore operations at the project are scheduled for 2027.

$SUBC.OL
Equities

Adnoc Mulls UAE's First Multi-fuel Export Pipeline Amid Strait of Hormuz Closure

Abu Dhabi National Oil Co, or Adnoc, is planning to build a new pipeline for the export of gasoline, diesel, and jet fuel amid the continued closure of the Strait of Hormuz.The multi-fuel pipeline will be the first in the United Arab Emirates and is part of Adnoc's efforts to ensure the continued supply of its products to clients as regional tensions persist, London's Financial Times reported Tuesday, citing Adnoc's Executive Vice President for Trading Philippe Khoury.Adnoc is currently developing a second crude pipeline to double its oil export capacity through Fujairah, set to become operational in 2027.

$^DFMGI$^FADGI