Tailwind Energy has agreed to buy the UK business of Houston-headquartered oil and gas firm EOG Resources.
London-based Tailwind will gain 25% of the Columbus gas field development, which is operated by Serica Energy.
The buyer will also take on 100% of the producing Conwy field in the east Irish Sea, along with other minor North Sea interests.
Tailwind will have daily production of 15,000 barrels of oil per day once the deal goes through.
Earlier this week it completed the acquisition of Shell and Exxon’s interests in the Triton oil cluster.
The newcomer’s focus is on acquiring and investing in producing and near-term development assets in the UK North Sea that are deemed non-core.
It is backed by private commodities and energy group Mercuria.
Tailwind was founded in 2016 by a management team boasting more than 200 years of experience in investment and exploration and production.
It is led by chief executive Steve Edwards, whose career in oil and gas started at Schlumberger.
He joined Shell as an explorer working in a variety of international locations, including Australia, Africa and Europe.
Mr Edwards was hired by Nexen in 2006 as its business development manager for Europe.
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