News In Brief: Merger Creates Largest T&T-Focused E&P Company
News: Trinidad-based Trinity Exploration & Production has agreed terms of a conditional merger with Bayfield Energy. The new group will be called Trinity Exploration and Production (New Trinity). The deal will create the largest Trinidad & Tobago-focused independent exploration and production (E&P) company. The company will have 11 operated fields, gross production of around 4,650 barrels per day (b/d) and around 3,800b/d net production based on current production rates. Trinity shareholders will hold a 55% stake in New Trinity, while Bayfield shareholders will have the remaining 45%.