Tailwind buys UK North Sea-focused Decipher
Tailwind Energy has announced the purchase of fellow UK North Sea-focused operator Decipher Energy, without disclosing the deal's price.
"This acquisition will allow Tailwind to continue to deploy its strategy of exploiting organic production and near-term reserves growth opportunities whilst building out the Tailwind portfolio," the company said in a brief statement on April 1, adding that the deal was subject to regulatory and government approvals.
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Tailwind was founded in London in 2016 and produces hydrocarbons from the Conwy field in the East Irish Sea and the Triton area in the UK North Sea. It also has a 25% stake in Serica Energy-operated Columbus field, also in the North Sea, which is due on stream later this year.
Decipher was also set up in 2016 and acquired Iona Energy the following year. It has 100% interests in the producing Mansell and Orlando fields and the Senna discovery, all in the northern North Sea.