Fox Petroleum to Acquire Renfro, Cameron Parish Pipelines

- Fox Petroleum to Acquire Renfro, Cameron Parish Pipelines

Monday, September 12, 2011
Fox Petroleum Inc.

Fox Petroleum Inc. announced Monday that it is acquiring Renfro Energy LLC and Cameron Parish Pipelines LLC.

Renfro Energy LLC is a Dallas, Texas based limited liability company formed in March 2002 as an asset holding company to house existing oil and gas assets located in Texas, Oklahoma and for acquisitions identified in Louisiana. Since 1995, Renfro Energy LLC and its predecessor company have bought and sold over $6 million of oil and gas properties through approximately fifteen acquisitions.

Renfro Energy LLC and Cameron Parish Pipelines LLC assets are located in the heart of the Johnson Bayou, Louisiana. The Cameron Parish School Board Lease has cumulatively produced over six million barrels of oil since the 1930s.

Terms of the deal are expected in the upcoming days.

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Cameron to Acquire LeTourneau Technologies Drilling Systems

- Cameron to Acquire LeTourneau Technologies Drilling Systems

Wednesday, August 31, 2011
Cameron

Cameron has agreed to acquire LeTourneau Technologies Drillings Systems and Offshore Products divisions from Joy Global for approximately $375 million in cash. The boards of Cameron and Joy Global Inc. have unanimously approved the transaction, which is subject to customary closing conditions. Closing is scheduled during the 4th quarter of 2011.

LeTourneau is a well established provider of drilling equipment and rig designs and components for both the land and offshore rig markets. LeTourneau's products include elevating systems, skidding systems, cranes, top drives, rotary tables, draw works, mud pumps and rig control and power systems.

"The addition of LeTourneau's portfolio of drilling equipment and rig components adds to our existing products offering and enhances the growth opportunities for our drilling systems platform", said Jack Moore, Chairman and CEO of Cameron. "We welcome the LeTourneau team to the Cameron family and look forward to providing our customers and theirs with a greater suite of products and services." Moore further stated that this acquisition is expected to be accretive to Cameron's 2012 earnings.

Credit Suisse Securities (USA) LLC advised Cameron in connection with the transaction. Porter Hedges LLP are serving as legal advisor.

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