On December 6, 2022, Valeura Energy Inc. announced that Valeura Energy Asia Pte. Ltd. and Mubadala Petroleum (Thailand) Holdings Ltd. have entered into a sale and purchase agreement under which Valeura Energy Asia has agreed to acquire the Thailand upstream oil producing portfolio of Busrakham Oil and Gas Ltd., a subsidiary of Mubadala.
The purchase consideration for the acquisition is US$10.4 million plus up to an additional US$50 million, contingent upon certain upside price scenarios. The transaction is expected to close in Q1 2023.
Cassels is acting as Canadian legal counsel to Valeura.