Regal Petroleum says it is looking for strategic partners

Regal Petroleum (RPT LN) CEO David Greer said earlier this week in an interview that it plans to merge or setup a joint venture with a strategic partner to pursue its exploration projects, Bloomberg reported. Greer said Regal has agreements with about 13 companies looking at its assets, but there have been no bids yet “per se”. In June, Greer noted that Regal requires at least USD 1.4 bln in investments by 2025 to increase gas output and add new reserves, mostly in Ukraine.