UK-focused oil company Tailwind Energy has acquired Decipher Energy Limited, an oil and gas company with assets in the UK North Sea.
"This acquisition will allow Tailwind to continue to deploy its strategy of exploiting organic production and near-term reserves growth opportunities whilst building out the Tailwind portfolio. The transaction is subject to statutory regulatory and government approvals," Tailwind Energy said in a brief statement on Wednesday, without providing further details.
Decipher Energy owns 100% operated interests in Licence P.1606, covering the Orlando field, and Licence P.2311, covering the Senna discovery.
The Orlando field was brought online exactly two years ago via a tie-back to CNRI's Ninian platform.
Apart from the Decipher assets, Tailwind Energy is also working to bring online its Evelyn field in the North Sea.
The company reached a final investment decision (FID) in February. The Evelyn field is part of the Triton Cluster. Tailwind completed the acquisition of Shell and Esso E&P's interests in the Triton Cluster in September 2018.
The Evelyn will initially be developed as a one-well subsea tieback to the Triton FPSO with provision for future additional wells.
The first Evelyn well will be drilled in H2 2021, with the subsea tieback completed in summer 2022. The first production is expected in Q4 2022.
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