Geoex Outbids Spectrum in MCG Acquisition

Norwegian multi-client seismic data specialist, Spectrum, has decided to withdraw the offer to acquire all the issued and outstanding shares in MultiClient Geophysical (MCG).

The withdrawal follows the increase of the offer price by Geoex, a company bidding along Spectrum to acquire all outstanding shares in MCG.

The important factor in the decision was the announcement by MCG board to recommend to the shareholders to accept the higher Geoex offer, Spectrum noted.

“Spectrum has therefore resolved to withdraw the offer and that all acceptances received under the offer shall be released with immediate effect. Any blocking in VPS of MCG shares held by shareholders that have already accepted the offer will be released,” the company said.

To remind, Spectrum made an offer to acquire all the outstanding shares at a consideration of NOK 1.25 per share, compared to the initial offer of Geoex of NOK 1.20 per share.

The new offer by Geoex increased to NOK 1.40 per share.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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Europort 2019

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