Anders V. Heieren
Phone: +47 23 89 40 00
Mobile: +47 98 29 45 22
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Arntzen de Besche has assisted Tullow Oil Plc in the acquisition by its wholly owned subsidiary Tullow Norge AS of Spring Energy Norway AS. Total value of the transaction before working capital adjustments is USD 372.3 million. The transaction represents Tullow Oil’s first acquisition in Norway.
Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian (symbol: TLW) stock exchanges and is a constituent of the FTSE 100 Index. The Group has interests in over 100 exploration and production licences across 24 countries and focuses on four core areas: Africa, Europe, South Asia and South America. Tullow has a market cap in excess of GBP 11 billion. Spring Energy currently holds 28 license interests on the NCS.