Kosmos Energy Steps Back From Tullow Oil Acquisition Plans

Zacks2024-12-24

Kosmos Energy KOS, a U.S.-based oil and gas firm, has announced that it no longer wishes to acquire Tullow Oil TUWOY, a West Africa-focused upstream energy company. It did not state any specific ...

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It did not state any specific ...</p>\n\n<a href=\"https://finance.yahoo.com/news/kosmos-energy-steps-back-tullow-140900155.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FTI","symbol_name":"德希尼布FMC","start_time":0,"source_url":"https://finance.yahoo.com/news/kosmos-energy-steps-back-tullow-140900155.html","article_id":"2493038412","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/BjBWqXNowMotji7Nf31eew--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/09d03d5d41a4473656f1013d9201242c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493038412","pubTimestamp":1735049340,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Kosmos EnergyKOS, a U.S.-based oil and gas firm, has announced that it no longer wishes to acquire Tullow Oil TUWOY, a West Africa-focused upstream energy company. It did not state any specific reason for the decision. The announcement came in a few days after the two companies announced that they had engaged in preliminary talks for an all-share acquisition of Tullow Oil.The potential merger might have resulted in a combined entity with a production capacity of more than 130,000 barrels of oil equivalent per day , as per the 2024 forecast released by the two firms. The combination of the two companies would have established a leading exploration and production (E&P) firm with its operations focused on the western coast of Africa, including Mauritania, Senegal, Ghana, Equatorial Guinea and the U.S. Gulf of Mexico.TechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’stotal backlog witne","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FTI":"德希尼布FMC","KOS":"Kosmos Energy","NINE":"Nine Energy Service Inc."},"translate_title":"Kosmos Energy退出塔洛石油收购计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KOS":1,"FTI":0.9,"NINE":0.9},"content_text":"Kosmos Energy KOS, a U.S.-based oil and gas firm, has announced that it no longer wishes to acquire Tullow Oil TUWOY, a West Africa-focused upstream energy company. It did not state any specific reason for the decision. The announcement came in a few days after the two companies announced that they had engaged in preliminary talks for an all-share acquisition of Tullow Oil.\nProjected Production Capacity of the Combined Entity\nThe potential merger might have resulted in a combined entity with a production capacity of more than 130,000 barrels of oil equivalent per day (boe/d), as per the 2024 forecast released by the two firms. The combination of the two companies would have established a leading exploration and production (E&P) firm with its operations focused on the western coast of Africa, including Mauritania, Senegal, Ghana, Equatorial Guinea and the U.S. Gulf of Mexico.\nOperational Synergies and Shared Assets in Ghana\nPer a Reuters report, Shore Capital Stockbrokers have noted that the deal made sense for the two companies as they would have benefited from their shared assets in Ghana. These assets would have led to potential operational synergies, enhancing the profitability of the combined entity. However, the transaction would likely have encountered challenges, as it would require approval from key stakeholders, including the Ghana government. Additionally, approval from the creditors of both companies would be needed to finalize the deal.\nDebt Concerns and Financial Implications\nKosmos Energy and Tullow Oil are highly indebted, meaning both companies have a substantial debt burden. Many industry analysts believed that the potential merger with KOS would have helped Tullow Oil improve its financials. The two companies collaborate in many key fields in Ghana.\nKosmos Energy had been provided with a deadline of Jan. 9, 2025, 5 p.m. (London time) to make an offer for acquiring the West Africa-focused energy company. Although KOS has announced that it will not proceed with the acquisition, the company has reserved the right to reconsider this decision under certain circumstances.\nTullow Oil’s management remains confident in the company’s ability to operate independently. Management also stated that KOS is well-positioned to improve its capital structure.\nZacks Rank and Key Picks\nBoth KOS and TUWOY carry a Zacks Rank #3 (Hold) at present.\nSome better-ranked stocks from the energy sector areTechnipFMC plc FTI and Nine Energy Service NINE. TechnipFMC plc currently sports a Zacks Rank #1 (Strong Buy), while Nine Energy Service carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nTechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.\nNine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nKosmos Energy Ltd. (KOS) : Free Stock Analysis Report\nTullow Oil PLC (TUWOY) : Free Stock Analysis Report\nNine Energy Service, Inc. (NINE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493038412"}