M&A Deal Summary

New Times Acquires LNG Project

On November 13, 2012, New Times acquired oil/gas exploration company LNG Project for 80M CNY

Acquisition Highlights
  • This is New Times’ 10th transaction in the Oil/Gas Exploration sector.
  • This is New Times’ largest (disclosed) transaction.
  • This is New Times’ 1st transaction in China.

M&A Deal Summary

Date 2012-11-13
Target LNG Project
Sector Oil/Gas Exploration
Buyer(s) New Times
Deal Type Add-on Acquisition
Deal Value 80M CNY

Target

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.

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Buyer(S) 1

Buyer

New Times

Hong Kong, China

Category Company
Founded 1998
Sector Oil/Gas Exploration
Employees122
Revenue 10.9B HKD (2024)
DESCRIPTION

New Times 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 was founded in 1998 and is based in Hong Kong, China.


DEAL STATS #
Overall 10 of 11
Sector: Oil/Gas Exploration M&A 10 of 11
Type: Add-on Acquisition M&A Deals 2 of 2
Country: China M&A 1 of 1
Year: 2012 M&A 7 of 7
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-08 Tiger Energy Operating

Utah, United States

Tiger Energy Operating LLC owns and operates oil and gas leases.Tiger Energy Operating LLC operates as a subsidiary of New Times Energy Corporation Limited.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-19 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.

Buy $13M