April 23, 2020 / 8:07 AM / a month ago

BRIEF-Tullow Oil Reaffirms FY Production Outlook

April 23 (Reuters) - Tullow Oil PLC:

* TULLOW OIL PLC - GROUP PRODUCTION DELIVERING IN LINE WITH EXPECTATIONS IN Q1 OF 2020

* TULLOW OIL PLC - GROUP PRODUCTION IN Q1 OF 2020 AVERAGED 75,800 BOPD, IN LINE WITH EXPECTATIONS

* TULLOW OIL PLC - TULLOW’S FULL YEAR GUIDANCE REMAINS 70,000 - 80,000 BOPD

* TULLOW OIL PLC - PRODUCTION OPERATIONS IN WEST AFRICA HAVE SO FAR NOT BEEN AFFECTED.

* TULLOW OIL PLC - . IN KENYA, A NUMBER OF KEY WORKSTREAMS HAVE BEEN SUSPENDED DUE TO COVID-19 RESTRICTIONS

* TULLOW OIL PLC - Q1 2020 REALISED OIL PRICE OF C.$56/BBL INCLUDING BENEFIT OF C.$27 MILLION OF NET HEDGE RECEIPTS DURING PERIOD

* TULLOW OIL PLC - . 60% OF 2020 SALES REVENUE HEDGED WITH A FLOOR OF C.$57/BBL AND 40% OF 2021 SALES REVENUE HEDGED WITH A FLOOR OF C.$53/BBL

* TULLOW OIL PLC - FURTHER $85 MILLION OF CASH SAVINGS IDENTIFIED TO REDUCE CAPEX TO C.$300 MILLION AND DECOMMISSIONING SPEND TO C.$65 MILLION Source text for Eikon: Further company coverage:

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