Earlier in the day, Tullow addressed recent media speculation by announcing that there is no certainty of any offers being made or of the terms of any potential offers.

Kosmos Energy has a deadline of January 9, 2025, to decide whether to announce a firm intention to make an offer or to declare that it will not pursue the acquisition.

The Dallas, Texas-based company has a market cap of $1.75 billion, while Tullow Oil stood at 480.50 million.

Tullow's total production for the first half of 2024 was 63 700 barrels of oil equivalent per day (boepd).

Kosmos has production operations and exploration opportunities offshore Ghana, Equatorial Guinea and in the deepwater US Gulf of Mexico and pumped 65 400 boepd in the third quarter.

--Reuters--