Tailwind Energy Buys Decipher Energy
Tailwind Energy Ltd has announced the acquisition of Decipher Energy Limited.
The company said the acquisition will allow Tailwind to continue to deploy its strategy of exploiting organic production and near term reserves growth opportunities while building out the Tailwind portfolio. Tailwind noted that the transaction is subject to statutory regulatory and government approvals.
Back in November 2018, Tailwind announced that it had completed an acquisition of EOG’s UK business. In September 2018, the company announced the completion of an acquisition of interests in the Triton Cluster from Shell UK Limited, Shell EP Offshore Ventures Limited, and Esso Exploration and Production UK Limited.
Tailwind, which describes itself as an agile oil and gas company, was founded in 2016. Based in London, UK, the business is focused on the delivery of sustainable, long term value for its shareholders through technical excellence, holistic understanding of assets and systems, and risk mitigation to maximize value in UK continental shelf opportunities, Tailwind notes on its website.
The company is led by Steve Edwards, who has over 25 years of experience in upstream oil and gas. Edwards started his career in operations with Schlumberger before joining Shell as an explorer working in a variety of international basins and jurisdictions, including Australia, Africa, and Europe. He has also previously worked for Nexen and CNOOC, following its takeover of Nexen.
Decipher Energy describes itself as a North Sea focused development and production operating company “planning to be at the forefront of the next phase of the development of the North Sea”. The business, which was also established in 2016, announced the completion of its acquisition of Iona Energy Company (UK) Limited back in April 2017. The founding director of Decipher Energy is Steve Bowyer, who has more than 20 years of experience in the North Sea and internationally. He was formerly the managing director of First Oil.
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