November 20, 2014 3:56 PM ET

Oil, Gas and Consumable Fuels

Company Overview of PT Saka Energi Indonesia

Company Overview

PT Saka Energi Indonesia explores natural gas. The company is based in Indonesia. PT Saka Energi Indonesia operates as a subsidiary of PT Perusahaan Gas Negara (Persero) TBK.

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Indonesia

Key Executives for PT Saka Energi Indonesia

PT Saka Energi Indonesia does not have any Key Executives recorded.

PT Saka Energi Indonesia Key Developments

Swift Energy Company and PT Saka Energi Indonesia Announce Agreement to Jointly Develop Fasken Eagle Ford Acreage in South Texas

Swift Energy Company and PT Saka Energi Indonesia announced that U.S. subsidiaries of Swift Energy and Saka have executed definitive agreements to fully develop approximately 8,300 acres of Fasken area Eagle Ford shale properties owned by Swift Energy in Webb County, Texas. Closing is anticipated on or about June 30, 2014, subject to normal closing conditions. The executed agreements, effective January 1, 2014, provide for Saka to pay Swift Energy $175 million in total cash consideration to acquire a 36% full participating interest in Swift Energy's Fasken properties. The consideration is comprised of $125 million in cash to be paid at closing and $50 million in cash to be paid by Saka to carry a portion of Swift Energy's future field development costs. Swift Energy will continue to serve as operator of the Fasken properties, conducting all drilling, completion and production operations, with development plans for the field to be mutually agreed upon by Swift Energy and Saka as provided for in the definitive agreements. J.P. Morgan Securities LLC acted as financial advisor to Swift Energy in this transaction.

Perusahaan Gas Negara Seeks To Acquire Gas Field

PT Perusahaan Gas Negara (Persero) TBK (JKSE:PGAS) seeks to acquire one more gas field to boost its growing upstream business. The Jakarta Post reported, Perusahaan Gas Negara’s President Director, Hendi Prio Santoso stating: "In the near future, we will announce the acquisition of a gas block in South Sumatra. It's already in production." He added that PT Saka Energi Indonesia would make a formal announcement later regarding the acquisition.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 6, 2014
Swift Energy Co., Fasken Properties
 

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