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Tullow Oil PLC (TLW.L)

TLW.L on London Stock Exchange

233.40GBp
11:35am EDT
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Latest Key Developments (Source: Significant Developments)

Tullow Oil Closes $800 Mln Senior Notes Offering
Friday, 23 Mar 2018 10:00am EDT 

March 23 (Reuters) - Tullow Oil Plc ::CLOSING OF $800 MILLION SENIOR NOTES.‍COMPLETED OFFERING OF $800 MILLION AGGREGATE PRINCIPAL AMOUNT OF 7.000% SENIOR NOTES DUE 2025​.NET PROCEEDS FROM ‍NOTES WILL BE USED TO PAY TRANSACTION FEES, COSTS AND EXPENSES, REDEEM IN FULL SENIOR NOTES DUE 2020, REPAY CERTAIN EXISTING DEBT.  Full Article

Tullow Annouces Pricing Of $800 Mln Senior Notes
Friday, 16 Mar 2018 12:55pm EDT 

March 16 (Reuters) - Tullow Oil Plc ::PRICING OF $800M SENIOR NOTES.‍HAS PRICED ITS OFFERING OF $800 MILLION AGGREGATE PRINCIPAL AMOUNT OF 7% SENIOR NOTES DUE 2025 AT PAR​.‍SIZE OF OFFERING HAS BEEN INCREASED FROM $650 MILLION, INDICATED AT LAUNCH ON 12 MARCH, TO $800 MILLION​.‍INTEREST WILL BE PAYABLE SEMI-ANNUALLY​.‍OFFERING IS EXPECTED TO COMPLETE ON OR ABOUT 23 MARCH 2018, SUBJECT TO CUSTOMARY CONDITIONS PRECEDENT FOR SIMILAR TRANSACTIONS​.‍NOTES, WHOSE NET PROCEEDS WILL BE USED TO PAY TRANSACTION FEES, COSTS AND EXPENSES, REDEEM IN FULL COMPANY'S SENIOR NOTES DUE 2020​.‍NET PROCEEDS WILL BE USED REPAY CERTAIN EXISTING INDEBTEDNESS UNDER COMPANY'S CREDIT FACILITIES​.  Full Article

Tullow Oil Says Intention To Offer $650 Mln Senior Notes​
Monday, 12 Mar 2018 05:00am EDT 

March 12 (Reuters) - Tullow Oil Plc ::‍ANNOUNCEMENT OF INTENTION TO OFFER $650M SENIOR NOTES​.‍INTENDS TO OFFER $650 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF SENIOR NOTES DUE 2025​.‍NET PROCEEDS FROM NOTES WILL BE USED TOGETHER WITH CASH ON HAND TO REDEEM IN FULL COMPANY'S SENIOR NOTES DUE 2020.  Full Article

Tullow Oil Posts FY Operating Profit Of $22 Million
Wednesday, 7 Feb 2018 02:00am EST 

Feb 7 (Reuters) - Tullow Oil Plc ::FY OPERATING PROFIT $22 MILLION VERSUS LOSS OF $755 MILLION YEAR AGO.FY TOTAL REVENUE $1.72 BILLION VERSUS $1.27 BILLION YEAR AGO.SEES 2018 CAPEX OF $460 MILLION.UGANDA DEAL COMPLETION EXPECTED IN H1 2018, JV PARTNERS WORKING TOWARDS FID AROUND MID-YEAR.YEAR-END 2017 NET DEBT OF $3.5 BILLION WITH FACILITY HEADROOM INCLUDING FREE CASH OF $1.1 BILLION.GROUP IS CURRENTLY FOCUSED ON INVESTING IN PORTFOLIO OF ASSETS AND DEBT REDUCTION.NOMINATIONS COMMITTEE BEGINS PROCESS OF FINDING NEW CHAIRMAN AND EXPECT TO MAKE APPOINTMENT BY THE END OF 2018.BOARD HAS RECOMMENDED THAT NO DIVIDEND IS PAID FOR 2017.WEST AFRICA 2017 OIL PRODUCTION EXCEEDED EXPECTATIONS FOR THE YEAR AVERAGING 89,100 BOPD.IN 2018, WORKING INTEREST OIL PRODUCTION EXPECTED TO AVERAGE BETWEEN 82,000 AND 90,000 BOPD.2018 GROUP PRODUCTION GUIDANCE, FOR BOTH OIL AND GAS, TO BE BETWEEN 86,000 AND 95,000 BOEPD.FULL YEAR 2017 GROSS PRODUCTION FROM THE JUBILEE FIELD AVERAGED 89,600 BOPD, EXPECTS FY EFFECTIVE NET PRODUCTION TO 39,200 BOPD.TEN FIELDS 2017 GROSS PRODUCTION EXCEEDING INITIAL GUIDANCE, AVERAGING 56,000 BOPD, EXPECTS 2018 GROSS OIL PRODUCTION TO AVERAGE 64,000 BOPD.KENYA SOUTH LOKICHAR BASIN APPRAISAL PROGRAMME CONFIRMED MATERIAL OIL RESOURCES, PHASED DEVELOPMENT IS PLANNED WITH FID IN 2019, FIRST OIL IN 2021/22.  Full Article

Tullow Oil Says 2018 Group Production Guidance To Between 86,000 Boepd And 95,000 Boepd
Wednesday, 10 Jan 2018 02:26am EST 

Jan 10 (Reuters) - Tullow Oil Plc ::WEST AFRICA 2017 OIL PRODUCTION EXCEEDED EXPECTATIONS FOR THE YEAR AVERAGING 89,100 BOPD.IN EUROPE, WORKING INTEREST GAS PRODUCTION PERFORMED IN LINE WITH EXPECTATIONS WITH FULL YEAR NET PRODUCTION AVERAGING 5,600 BOEPD.2018 GROUP PRODUCTION GUIDANCE, FOR BOTH OIL AND GAS, TO BETWEEN 86,000 AND 95,000 BOEPD.FULL YEAR 2017 GROSS PRODUCTION FROM THE JUBILEE FIELD AVERAGED 89,600 BOPD.EXPECTS 2018 GROSS PRODUCTION FROM THE JUBILEE FIELD TO AVERAGE 75,800 BOPD.EXPECTS 2018 GROSS OIL PRODUCTION FROM THE TEN FIELDS TO AVERAGE 64,000 BOPD.EXPECTS TO REPORT REVENUE OF ABOUT $1.7 BILLION AND GROSS PROFIT OF ABOUT $0.8 BILLION FOR 2017.AS OF YEAR-END 2017, TULLOW HAS TOTAL HEADROOM INCLUDING FREE CASH OF $1.0 BILLION WITH NO MATERIAL NEAR-TERM DEBT MATURITIES.GROUP’S 2018 CAPITAL EXPENDITURE ASSOCIATED WITH OPERATING ACTIVITIES IS EXPECTED TO TOTAL ABOUT $460 MILLION.GROUP EXPECTS YEAR-END NET DEBT TO BE $3.5 BILLION; A REDUCTION OF OVER $1.3 BILLION OVER THE COURSE OF THE YEAR.  Full Article

Tullow Secures $2.5 Billion Debt Refinancing
Wednesday, 29 Nov 2017 02:00am EST 

Nov 29 (Reuters) - TULLOW OIL PLC ::TULLOW SECURES $2.5 BILLION DEBT REFINANCING.‍US$2.5 BILLION OF CREDIT FACILITIES ARE SPLIT BETWEEN A COMMERCIAL BANK FACILITY OF US$2.4 BILLION AND AN IFC FACILITY OF US$100 MILLION​.‍FULLY COMMITTED FACILITIES ARE REVOLVING WITH A THREE-YEAR GRACE PERIOD AND FINAL MATURITY OF NOVEMBER 2024​.HAVE NO MATERIAL NEAR-TERM DEBT MATURITIES AND WILL ENTER 2018 IN A STRONG FINANCIAL POSITION​.  Full Article

Tullow Oil raises 2017 West Africa net oil production guidance
Wednesday, 8 Nov 2017 02:00am EST 

Nov 8 (Reuters) - Tullow Oil Plc ::2017 WEST AFRICA NET OIL PRODUCTION GUIDANCE REVISED UPWARDS TO 85,000 BOPD-89,000 BOPD FROM 78,000 BOPD-85,000 BOPD.2017 CAPEX GUIDANCE REDUCED TO ABOUT $300 MILLION; 2017 FREE CASH FLOW FORECAST OF AROUND $400 MILLION.NET DEBT AT OCT. 31 REDUCED TO $3.6 BILLION FROM $3.8 BILLION AT HY; RBL RE-FINANCING ON SCHEDULE TO COMPLETE BEFORE YEAR-END.FULL YEAR GROSS PRODUCTION GUIDANCE FROM GHANA'S JUBILEE FIELD INCREASED TO AROUND 89,000 BOPD (NET: 31,600 BOPD).  Full Article

Tullow Oil says ‍no significant reservoir quality rocks were encountered at ‍ARAKU-1 exploration
Friday, 27 Oct 2017 02:00am EDT 

Oct 27 (Reuters) - Tullow Oil Plc ::‍ARAKU-1 EXPLORATION WELL IN SURINAME HAS BEEN DRILLED TO A TOTAL DEPTH OF 2,685 METRES AND PENETRATED OBJECTIVES OF ARAKU PROSPECT​.‍NO SIGNIFICANT RESERVOIR QUALITY ROCKS WERE ENCOUNTERED ALTHOUGH LOGGING AND SAMPLING PROVED PRESENCE OF GAS CONDENSATE.‍ARAKU-1 EXPLORATION WELL IS NOW BEING PLUGGED AND ABANDONED​.  Full Article

Blocktrade - Tullow Oil updates on block listing application
Tuesday, 15 Aug 2017 03:37am EDT 

Aug 15 (Reuters) - Tullow Oil Plc :BLOCKTRADE - TULLOW OIL PLC: CO SAYS BLOCK LISTING APPLICATION MADE TO UK LISTING AUTHORITY AND TO IRISH STOCK EXCHANGE FOR 5 MILLION SHARES OF GBP£0.10 EACH.BLOCKTRADE - TULLOW OIL PLC: CO SAYS ADMISSION IS EXPECTED TO TAKE PLACE ON OR AROUND 16 AUGUST 2017.  Full Article

Tullow Oil posts H1 loss before tax of $519 mln
Wednesday, 26 Jul 2017 02:18am EDT 

July 26 (Reuters) - TULLOW OIL ::H1 LOSS BEFORE TAX OF $519 MILLION VERSUS PROFIT BEFORE TAX OF $24 MILLION A YEAR EARLIER.H1 SALES REVENUE OF $788 MILLION VERSUS $541 MILLION YEAR EARLIER.AS OF JUNE 30, 2017 NET DEBT $3.83 BILLION.H1 CAPITAL EXPENDITURE ON EXPLORATION ACTIVITIES $77 MILLION.FY NET PRODUCTION GUIDANCE FROM JUBILEE, INCLUDING PRODUCTION-EQUIVALENT INSURANCE PAYMENTS, REMAINS AROUND 36,000 BOPD.2017 CAPEX GUIDANCE CUT TO $400 MILLION FROM $500 MILLION.  Full Article

UPDATE 3-Tullow swings into profit as focus shifts to Kenya

Feb 7 Africa-focused oil and gas producer Tullow Oil swung back into profit in 2017 after three years in the red, and outlined plans to begin production in Kenya by as early as 2021.