Tenaz Energy Set for Major Dutch North Sea Expansion

Tenaz Energy Corp (TSE:TNZ) has released an update.

Tenaz Energy Corp. has struck a deal to purchase NAM Offshore B.V. for €165 million, aiming to close mid-2025. This acquisition is set to significantly boost Tenaz’s production and cash flow, with nearly 11,000 barrels of oil equivalent per day (99% natural gas) and an anticipated €90 million in free cash flow for 2024. The move will position Tenaz as the second-largest operator in the Dutch North Sea, enhancing its scale and financial flexibility.

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