Kirk Lovegrove & Company advises Tailwind Energy on £644 million business combination with Serica Energy

December 2022

Kirk Lovegrove & Company has advised Tailwind Energy on its £644 million combination with Serica Energy. The estimated proforma production in 2023 of the merged Serica-Tailwind group will be 40-45,000 boe/d from 11 producing fields, putting the group into the top 10 UK oil & gas producers. The combined portfolio will have 2P reserves of 106 million boe, and production from two main offshore hubs – Bruce and Triton – balanced between oil and gas. As a result of the transaction, the commodity trading group Mercuria will become a 25.2% shareholder and will nominate two directors to the Serica board on completion.