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Tullow Oil Acquires Interest in West Cape Three Points License and Jubilee Field in Offshore Ghana from EO Group - Tullow Oil Strengthens its Foothold in Ghana - Deal Analysis From GlobalData
GlobalData, Aug 2011, Pages: 7
Tullow Oil Acquires Interest in West Cape Three Points License and Jubilee Field in Offshore Ghana from EO Group - Tullow Oil Strengthens its Foothold in Ghana - Deal Analysis From GlobalData
Summary
Tullow Oil plc (Tullow Oil) completed the acquisition of 3.5% interest in the West Cape Three Points license and 1.75% interest in the Jubilee field in offshore Ghana, from EO Group Limited (EO Group) for a purchase consideration of $305m. Tullow Oil funded the acquisition cost through the issue of 10,137,196 ordinary shares valuing approximately $216m, and the remainder was paid in cash, including certain working capital adjustments. Following the transaction, Tullow Oil holds 26.4% and 36.5% interest in the West Cape Three Points license and the Jubilee Oil field, respectively.
Scope
- Rationale behind Tullow Oil acquiring stake in Ghanaian assets from EO Group
- Strategic benefits for the companies involved,
- Geography covered -Ghana
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in African industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Ghana's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
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