Tullow lured by cash-rich Capricorn, as $827m merger reshapes Africa-focused player

Issue 462 - 03 Jun 2022 - By James Gavin

London (LSE)-, Irish- and Ghana Stock Exchange-listed Tullow Oil’s merger with Capricorn Energy (ex-Cairn Energy) brings together two FTSE250 independent exploration and production companies to create an Africa-focused entity with a bigger portfolio and longer pockets. Capricorn’s balance sheet complements Tullow’s regional depth, but questions remain over who gains most from the merger and the deals promised to follow.

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