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Tailwind Completes EOG UK Acquisition

Laxman Pai Friday, 09 November 2018 00:08

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

Image: Tailwind
Image: Tailwind

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.

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2018-11-20 06:13:46am