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Latin American oilfield services capacity is attracting acquisition interest from operators that want owned infrastructure in place before basin-level activity accelerates.
Apertura Energy PLC (LON:VZLA) has agreed heads of terms to buy Brazilian oilfield services group Conterp for £25 million, and plans to raise between £10 million and £30 million alongside the transaction to fund its push into Venezuelan oil and gas.
Conterp's asset base and financial profile Conterp owns 12 workover rigs and operates two drilling rigs, with a workforce of more than 600 people.
For the 12 months to June, the group posted unaudited revenue of £26.4 million and adjusted EBITDA of £3.9 million. Its signed forward work programme exceeds £100 million.
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