Nigeria-focused oil and gas exploration and production company Oando Energy Resources (OER) on Friday announced that the outside date for the completion of its acquisition of multinational energy corporation ConocoPhillips’ Nigerian upstream oil and gas business had been extended to June 30.
OER and ConocoPhillips agreed to extend the date, originally April 30, to enable the companies to satisfy all closing conditions, including consent from the Nigerian Minister of Petroleum Resources.
OER had also agreed to increase its deposit by $25-million on May 30, should the Minister’s consent not be received on or before May 23.