Tailwind closes North Sea deal with EOG

UK oil and gas company Tailwind Energy has completed the acquisition of EOG’s UK business. 

Conwy oil field; Source: Tailwind

Tailwind agreed with EOG Resources to acquire its UK business in early September 2018 and announced the completion of the acquisition on Thursday, November 8.

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.

Following completion, Tailwind expects to produce in excess of 15k bbl/d across its portfolio.

Tailwind Energy is a new oil and gas company focused on acquiring and investing in United Kingdom Continental Shelf (UKCS) assets. It is being supported by Mercuria, a privately-held commodities and energy group.

It is also worth mentioning that, prior to EOG deal, Tailwind also this year completed the acquisition of interests in the Triton Cluster in the UK North Sea from Shell and ExxonMobil.

Offshore Energy Today Staff