AGL Eyes Vocus

AGL Energy Limited (AGL) has been granted exclusive access to conduct due diligence on Vocus for a period of four weeks after submitting a non-binding, indicative proposal to acquire Australia-based telco operator.

The indicative proposal follows AGL’s announcement that it had previously been unable to agree due diligence terms with Vocus and Vocus’ announcement that EQT had ceased undertaking due diligence and withdrawn its indicative proposal for Vocus.

AGL believes acquiring Vocus may be an optimal way of executing strategy to meet the needs of increasingly connected customers as energy and data value streams converge and the traditional energy sector transforms – and aligned with AGL’s capabilities in integrating and managing complex assets and customer portfolios.

AGL continues to assess the funding of any transaction but intends to utilise existing cash and new debt facilities, subject to the maintenance of its Baa2 credit rating. AGL’s initial assessment is that a transaction on this basis would be accretive to AGL’s earnings per share in the first 12 months post acquisition.

Discussions between AGL and Vocus are incomplete and there is no certainty they will lead to a binding agreement.

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Posted on June 12, 2019 with tags , .

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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.

More info

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OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

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OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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