TUWOY - Carlyle in talks to buy Occidental's Ghana oilfields - Reuters

Carlyle-backed ([[CG]] +1.4%) Boru Energy is in talks with Occidental Petroleum ([[OXY]] +4.4%) to acquire its oil and gas fields in Ghana for more than $500M, Reuters reports.A deal for Occidental’s stakes in the offshore Jubilee and TEN fields would be the first investment for Boru Energy, which Carlyle's international energy fund CIEP launched in 2019.Occidental holds a 24% stake in Jubilee and a 17% interest in TEN fields, which are both operated by Tullow Oil (TUWOY).The Jubilee field has suffered various technical setbacks but production stabilized at 83.6K bbl/day of oil in 2020, while TEN's output totaled 48.7K bbl/day in 2020.Investors are not properly pricing in Occidental's cash flow potential at current oil prices, The Value Portfolio writes in a bullish analysis published recently on Seeking Alpha.

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Carlyle in talks to buy Occidental's Ghana oilfields - Reuters