Boru Energy to seek African acquisitions

Oct. 2, 2019
The Carlyle Group and former executives of Tullow Oil PLC have formed Boru Energy targeting acquisitions of oil and gas properties up to $1 billion in Sub-Saharan Africa.

The Carlyle Group and former executives of Tullow Oil PLC have formed Boru Energy targeting acquisitions of oil and gas properties up to $1 billion in Sub-Saharan Africa.

The firm will seek nonoperated interests in producing assets “with significant commercialization potential and where the operator is a high quality national, international, or independent oil and gas company,” according to a press release.

Leading Boru Energy will be Aidan Heavey, founder and former chairman and chief executive officer of Tullow Oil, and Tom Hickey, who was Tullow chief financial officer during 2000-08.

Funding for Boru Energy investments will come from Carlyle International Energy Partners LP, which focuses on oil and gas exploration and production, midstream, and refining and marketing in Europe, Africa, Latin America, and Asia.