Investment Summary

New Times Energy Invests In The Palmar Largo JV

On November 19, 2013, New Times Energy invested in oil/gas exploration company The Palmar Largo JV from Pluspetrol S.A. for 13M USD

Investment Highlights
  • This is New Times Energy’s 11th transaction in the Oil/Gas Exploration sector.
  • This is New Times Energy’s largest (disclosed) transaction.
  • This is New Times Energy’s 7th transaction in Argentina.

Investment Summary

Date 2013-11-19
Target The Palmar Largo JV
Sector Oil/Gas Exploration
Investor(s) New Times Energy
Sellers(s) Pluspetrol S.A.
Deal Type Stake Purchase
Deal Value 13M USD

Target

The Palmar Largo JV

Argentina
The Palmar Largo JV is a producing oil and gas field with proven and probable (P1+P2) reserves The Palmar Largo JV Comprising 2 working zones.

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Investor(S) 1

Investor

New Times Energy

Hong Kong, China

website


Category Company
Sector Oil/Gas Exploration
Employees99
Revenue 11.2B HKD (2021)
DESCRIPTION

New Times Energy Corp. is an integrated natural resources company engaged in the acquisition, development and operation of oil & gas projects in Argentina, the U.S and China. New Times Energy Corp. is based in Hong Kong, China.


DEAL STATS #
Overall 11 of 11
Sector (Oil/Gas Exploration) 11 of 11
Type (Stake Purchase) 7 of 7
Country (Argentina) 7 of 7
Year (2013) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-13 LNG Project

Liupanshui City, China

LNG Project includes 15 LNG/CNG stations and gas supply to 5 industrial parks and 73,500 households. The construction of 2 out of 15 LNG/CNG stations has been completed.

Buy CN¥80M

Seller(S) 1

SELLER

Pluspetrol S.A.

Buenos Aires,, Argentina

website


Category Company
Founded 1976
Sector Oil/Gas Exploration
DESCRIPTION

PLUSPETROL is one of the private E&P companies in Latin America that has experienced the greatest development in the last decades. With its first operations in Argentina, the Company is, at present, the largest oil and gas producer of Peru and one of the most important gas producers in Argentina.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Stake Purchase) 1 of 1
Country (Argentina) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1