Tailwind Completes EOG UK Acquisition

Laxman Pai
Friday, November 9, 2018

London-based Tailwind Energy  has announced the completion of the acquisition of Houston-headquartered oil and gas firm EOG Resources's UK portfolio.  

The oil and gas venture announced two months ago it has agreed with EOG Resources Inc to acquire EOG’s UK business, subject to regulatory approvals.  

As part of the inherited EOG UK portfolio, Tailwind will own and operate 100% of the producing Conwy oil field, a 25% non-operated interest in the Columbus gas development project and other minor asset interests in the North Sea.  

Upon completion of this transaction, Tailwind expected to produce in excess of 15k bbl/d across its portfolio.

This take over follows the completion of the acquisition of Shell and Exxon’s interests in the Triton oil cluster.

Tailwind is backed by private commodities and energy group Mercuria. The business was founded in 2016 by a management team boasting more than 200 years of experience in investment and exploration and production.

Categories: Mergers & Acquisitions Exploration Offshore Energy Legal

Related Stories

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Keel Laying for Wind Flyer Trimaran Crew Boat

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com