Geo-Jade acquiring Bankers Petroleum

Bankers Petroleum Ltd., Calgary, will be acquired by affiliates of Geo-Jade Petroleum Corp., Beijing, in a share purchase valued at $575 million (Can.).

Bankers executives said the deal will enable it to accelerate work in Albania, where it operates Patos-Marinza heavy oil field and holds 100% interests in Kucova oil field and Exploration Block F (OGJ Online, Apr. 5, 2013). Last year it acquired an 85% exploratory interest in the Puspokladany Block in Hungary.

Geo-Jade, formed in 2010, operates six exploration blocks and three development blocks in Central Asia, North America, and China with production exceeding 10,000 b/d.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...