{"id":12315,"date":"2022-06-06T10:37:22","date_gmt":"2022-06-06T10:37:22","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12315"},"modified":"2022-06-06T10:37:22","modified_gmt":"2022-06-06T10:37:22","slug":"tullow-oil-capricorn-energy-reach-agreement-on-the-terms-of-anticipated-merger","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-capricorn-energy-reach-agreement-on-the-terms-of-anticipated-merger\/","title":{"rendered":"Tullow Oil &#038; Capricorn Energy Reach Agreement on the terms of Anticipated Merger"},"content":{"rendered":"<p>Tullow Oil and\u00a0Capricorn Energy\u00a0have reached an agreement on the terms of a recommended all-share combination.<\/p>\n<p>The &#8216;merger of equals will create a leading African energy company with a material and diversified asset base and a portfolio of investment opportunities delivering visible production growth&#8217;.<\/p>\n<p><span dir=\"ltr\">Under the terms of the Combination, each Capricorn Shareholder will be entitled to receive:\u00a0<\/span><span dir=\"ltr\">for each Capricorn Share:<\/span><span dir=\"ltr\">\u00a0<\/span><span dir=\"ltr\">3.8068 New Tullow Shares.\u00a0<\/span><span dir=\"ltr\">On completion of the Combination, Capricorn Shareholders will hold approx. 47 per cent of\u00a0<\/span><span dir=\"ltr\">the Combined Group and Tullow Shareholders will hold approx. 53 per cent.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tullow Oil and\u00a0Capricorn Energy\u00a0have reached an agreement on the terms of a recommended all-share combination. The &#8216;merger of equals will create a leading African energy company with a material and &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-capricorn-energy-reach-agreement-on-the-terms-of-anticipated-merger\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":7550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11],"tags":[10528,1553,2571],"class_list":["post-12315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","tag-capricorn-energy","tag-merger","tag-tullow-oil","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3cD","jetpack-related-posts":[{"id":12436,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-provides-july-trading-statement-operational-update\/","url_meta":{"origin":12315,"position":0},"title":"Tullow Oil Provides July Trading Statement &#038; Operational Update","author":"","date":"July 13, 2022","format":false,"excerpt":"Rahul Dhir, Chief Executive Officer, Tullow Oil plc, commented today: \u201cIt is two years since I joined Tullow and today, we are in a very different place. A relentless focus on costs, capital discipline and operating performance is ensuring delivery of our business plan. We have also added unhedged production\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12659,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-tullow-announces-its-half-year-results-for-the-six-months-ended-30-june-2022\/","url_meta":{"origin":12315,"position":1},"title":"Tullow Oil (Tullow) announces its Half Year results for the six months ended 30 June 2022.","author":"","date":"September 14, 2022","format":false,"excerpt":"2022 First Half Results Summary Group working interest production for the first half of 2022 averaged 60.9 kboepd, in line with expectations. Ghanaian drilling programme ahead of schedule, having completed two previously drilled wells and drilled and completed another three wells. A further six wells are expected to be drilled\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10319,"url":"https:\/\/www.oilnewskenya.com\/index.php\/middle-east-and-africas-oil-gas-industry-saw-a-drop-in-deal-activity-in-q1-2021\/","url_meta":{"origin":12315,"position":2},"title":"Middle East and Africa\u2019s Oil &#038; Gas Industry Saw a Drop  in Deal Activity in Q1 2021","author":"","date":"May 12, 2021","format":false,"excerpt":"Led by $2.59bn asset transaction with BP Exploration (Epsilon), Middle East and Africa\u2019s oil & gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData\u2019s deals database. A total of 27 deals worth $4.81bn were announced for\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15788,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-capricorn-announces-ministerial-signing-of-merged-concession-agreement\/","url_meta":{"origin":12315,"position":3},"title":"EGYPT: Capricorn Announces Ministerial Signing of Merged Concession Agreement","author":"Samuel Kamau Mbote","date":"May 20, 2026","format":false,"excerpt":"Capricorn announces that the Minister of Petroleum and Mineral Resources has signed the consolidated and amended concession agreement covering eight of the Company's existing Egyptian Western Desert concession agreements in which it has a 50% participating interest held jointly with Cheiron Oil and Gas Limited (Cheiron). With the Minister\u2019s signature,\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15007,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-egpc-approves-consolidation-of-capricorns-8-existing-concession-agreements\/","url_meta":{"origin":12315,"position":4},"title":"EGYPT: EGPC Approves Consolidation of Capricorn&#8217;s 8 Existing Concession Agreements","author":"","date":"May 8, 2025","format":false,"excerpt":"Capricorn has announced that it has been informed by the Egyptian General Petroleum Corporation (EGPC) that it has approved the consolidation of eight of the Company\u2019s existing Egyptian concession agreements, in which it has a 50% participating interest held jointly with Cheiron Oil and Gas Limited, into a new, single\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15318,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-capricorn-receives-50m-from-the-egyptian-general-petroleum-corporation\/","url_meta":{"origin":12315,"position":5},"title":"EGYPT: Capricorn\u00a0Receives $50m from the Egyptian General Petroleum Corporation","author":"","date":"October 26, 2025","format":false,"excerpt":"Capricorn\u00a0has announced\u00a0that it has\u00a0received $50m from the Egyptian General Petroleum Corporation (EGPC). Since 30 June 2025, the Company has received a total of $102m, and its accounts receivable is approximately $115m (H1\u201925 - $182m) (excluding expected credit loss adjustments). The Company expects to receive further material payments against arrears before\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/capricorn-energy-plc-logo-1200x675-1.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/capricorn-energy-plc-logo-1200x675-1.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/capricorn-energy-plc-logo-1200x675-1.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/capricorn-energy-plc-logo-1200x675-1.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/capricorn-energy-plc-logo-1200x675-1.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12315"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12315\/revisions"}],"predecessor-version":[{"id":12316,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12315\/revisions\/12316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/7550"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}