Key Developments: Tullow Oil PLC (TUWLF.PK)
16.25USD
21 May 2013
$0.30 (+1.88%)
$15.95
$16.10
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$16.10
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1,782
$24.04
$14.85
Latest Key Developments (Source: Significant Developments)
Guyana Signs Offshore Oil Exploration Deal With Spain's Repsol SA; Repsol SA To Partner With Tullow Oil PLC-Reuters
Reuters reported that Guyana's government signed an agreement giving Repsol SA rights to explore for crude off the South American nation's coast. The Company signed a four-year deal to explore the Kanuku Block, an area approximately 6,525 kilometers (4,055 miles) that is about 100 miles (161 kilometers) off Guyana's coast. Repsol SA will be partnering with Tullow Oil PLC and expects to complete a well by 2015. Full Article
Africa Oil Corp and Tullow Oil PLC Announce Etuko-1 Well Spud in Kenya
Africa Oil Corp announced that its partner Tullow Oil PLC, the operator of Block 10BB in Kenya, has commenced drilling at the Etuko (formerly Kamba) prospect. This well will target a new play area in the Lockichar Basin where a working petroleum system has been confirmed by recent discoveries at Ngamia and Twiga. The primary objectives will be the Lower Lokhone and Auwerwer sands, both of which have been shown to be high quality reservoirs containing oil in existing wells. The gross best estimate of prospective resources for the prospect are 231 million barrels of oil based on a third-party Competent Person’s Report. The well is expected to take approximately 60 days to drill and evaluate. Full Article
INPEX CORP's Subsidiary to Acquire Mining Interests from Subsidiary of Tullow Oil plc
INPEX CORP announced that its subsidiary will acquire 30% interests in a mining area located in Uruguay, from a subsidiary of Tullow Oil plc. After the transaction, Tullow Oil subsidiary will hold 70% interests and the Company's subsidiary will hold 30% interests in the mining area. Full Article
Bridge Energy ASA Announces PL511 Mjosa Exploration Well Spud Jointly-Owned by Wintershall, Bridge Energy, Maersk, Petoro, VNG and Tullow Oil PLC
Bridge Energy ASA announced that the drilling of exploration well 6406/6-3 has commenced. The well will target the Mjosa gas prospect, which is located 10 kilometers northeast of the Linnorm discovery within the Haltenbanken Area of the Norwegian Sea. The well is being drilled by the Transocean Arctic semi-submersible rig and is targeting Lower and Middle Jurassic reservoirs. The estimated unrisked mean potential targeted by the well is 14 million barrels of oil equivalent (mmboe) net to Bridge. Bridge has a 7.5% interest in the well. Wintershall is the operator with 25%, and the other partners are Maersk (25%), Petoro (20%), VNG (12.5%), and Tullow Oil PLC (10%). Full Article
Tullow Oil PLC's Subsidiary Announces Sale of Tullow Bangladesh
Tullow Oil PLC (Tullow) announced that the Company through its subsidiary, Tullow Oil International Limited has signed an agreement with KrisEnergy Asia Holdings BV, a subsidiary of KrisEnergy Asia Limited, for the sale of 100% of the share capital of Tullow Bangladesh Limited (TBL). The consideration is $42.35 million with an effective date of January 1, 2013. Full Article
Tullow Oil PLC Announces Final Dividend
Tullow Oil PLC announced that the Board intends to maintain the final dividend payment of 8.0 pence per share, bringing the total payout for the year to 12 pence per share. Full Article
Tullow Oil PLC Completes Acquisition of Oil Exploration Portfolio in Norway
Tullow Oil PLC announced that it has completed the acquisition of Spring Energy Norway AS exploration portfolio. Full Article
Tullow Oil PLC Issues FY 2012 Revenue Guidance Below Analysts' Estimates-Conference Call
Tullow Oil PLC announced that for fiscal 2012, it expects total revenue to be $2.35 billion (2011: $2.30 billion). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $2.43 billion for fiscal 2012. Full Article
Tullow Oil PLC Issues FY 2013 Production Guidance
Tullow Oil PLC announced that production guidance for fiscal 2013 will be in the range of 86,000 to 92,000 boped which includes all gas assets currently held for sale. Full Article
Hyperdynamics Corp's SCS Corporation Ltd Completes Sale of 40% Interest in Guinea Concession to Tullow Oil PLC's Tullow Guinea Ltd
Hyperdynamics Corp announced that its wholly owned subsidiary, SCS Corporation Ltd, has completed the previously announced sale of a 40% gross interest in the Company's oil and gas exploration concession offshore Guinea to Tullow Guinea Ltd., a subsidiary of U.K.-based Tullow Oil PLC. Guinea's Ministry of Mines and Geology formally approved the sale by issuing an Arrete on December 27, the transaction closed December 31, 2012 , and Tullow has transferred the $27 million cash payment to SCS. Tullow will also carry SCS' participating interest share of future expenses, up to a gross expenditure cap of $100 million, from the date of entry into the next exploration period until 90 days after the drilling of the well. Full Article
Tullow Oil says financials in line
LONDON, May 8 - Tullow Oil said that its financial position for the year to date was in line with expectations, with capital spending set to be around $2 billion in 2013.
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