There remains significant scepticism however over the synergies and completion of the company’s Capricorn Energy merger, but Tullow has maintained that the deal will enable the companies to become a leading player in African energy production.
As Tullow Oil works to execute its merger with Capricorn Energy, the company is focusing on growth projects.
Oil giant Tullow Oil is expecting to rake in $200 million in free cash flow at an average oil price of $95 a barrel in 2022
The boards of directors of Tullow Oil PLC and Capricorn Energy PLC are pleased to announce that they have reached agreement on the terms of a recommended all-share combination of Tullow and Capricorn (the “Combination”) to create the Combined Group.
Tullow Oil will acquire Capricorn Energy in an all-stock deal worth 656.9 million pounds ($826.7 million)