Fossil Energy – Takeover
U.S. oil and gas company Kosmos Energy is in early talks for an all-share acquisition of Tullow Oil that would create a West Africa-focused producer.
The merger of the two heavily indebted firms would be the latest in a recent wave of energy industry consolidation as company boards look to boost performance by increasing scale and cutting costs.
The combined company would have production of more than 130,000 barrels of oil equivalent per day (boepd), based on the two companies’ 2024 guidance, spanning Mauritania, Senegal, Ghana and Equatorial Guinea on Africa’s western coast as well as the U.S. Gulf of Mexico.
