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Meren Energy Inc. (TSX, Nasdaq OMX: MER) Doubles Reserves Post-Prime Deal Amid Rebrand
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Highlights
Meren Energy Inc. (formerly Africa Oil Corp.) has officially adopted its new corporate identity following the completion of its Prime Oil & Gas consolidation. The rebranding to “Meren Energy” aligns with the strategic shift and structural simplification of the business, particularly in its Nigerian offshore operations.
The consolidation, which finalized recently, has doubled the company’s oil and gas reserves and production. These assets, located in deepwater Nigeria, are characterized by low lifting costs and premium Brent-based pricing. According to the company, no changes in capitalization will occur alongside the ticker update to “MER” on both the TSX and Nasdaq OMX Stockholm.
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