Tullow Oil agrees to acquire Norwegian exploration company, Spring Energy, for US$372.3 million
On 11 December 2012, Tullow Oil announced the acquisition of Norwegian explorer Spring Energy, for a consideration of US$372.3 million. The Spring deal is effective from 1 September 2012, and remains subject to approval by the Norwegian authorities. The deal includes interests in the commercial Brage and Bream assets, but these only form a small part of the deal. Wood Mackenzie values these assets conservatively at US$42.8 million. In addition to the commercial assets, a number of technical ...