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Tullow Oil PLC (TLW.L)

TLW.L on London Stock Exchange

232.20GBp
15 Jan 2018
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Latest Key Developments (Source: Significant Developments)

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

Tullow Oil reports H1 gross profit of $300 mln vs. $200 mln
Wednesday, 28 Jun 2017 02:17am EDT 

June 28 (Reuters) - Tullow Oil Plc ::Total revenue for H1 2017 $800 million versus $500 million; Gross profit of $300 million versus $200 million.Expects to generate $600 million of pre-tax operating cash flow for H1 2017.At the end of June 2017, net debt is estimated at $3.8 billion.Capex guidance for year has been revised from about $500 million to about $400 million.  Full Article

Tullow Oil appoints Les Wood CFO after Ian Springett resigns due to ill health
Tuesday, 20 Jun 2017 02:00am EDT 

June 20 (Reuters) - Tullow Oil Plc :Ian springett, chief financial officer, has resigned from board of tullow with effect from 20 june 2017 due to ill-health.Appointed les wood, interim cfo from 5 january 2017, as an executive director and chief financial officer with effect from 20 june 2017.  Full Article

Tullow Oil updates on Emekuya-1 oil discovery in Kenya
Wednesday, 17 May 2017 02:00am EDT 

May 17 (Reuters) - Tullow Oil Plc :Emekuya-1 oil discovery in kenya.Emekuya-1 well in block 13t, northern Kenya has encountered around 75 metres of net oil pay in two zones.  Full Article

Tullow Oil keeps FY production forecast
Wednesday, 26 Apr 2017 02:00am EDT 

April 26 (Reuters) - Tullow Oil Plc ::Full year production forecast remains unchanged.2017 West Africa working interest oil production, including production-equivalent insurance payments, expected to average 78,000-85,000 bopd.2017 Europe working interest gas production expected to average 6,000-7,000 boepd.Q1 West Africa net working interest oil production, including production-equivalent insurance payments, averaged 85,700 bopd.Q1 Europe working interest gas production averaged 6,300 boepd.Q1 gross production from jubilee field averaged 82,500 bopd (net: 29,300 bopd).Q1 gross production from jubilee field averaged 82,500 bopd (net: 29,300 bopd).Q1 gross production from ten field averaged around 50,000 bopd, in line with guidance.Q1 gross production from ten field averaged around 50,000 bopd, in line with guidance.2017 annual production forecast for ten field remains unchanged at around 50,000 bopd (net: 23,600 bopd).Completed scheduled 6-mthly re-determination of RBL facilities in march.Group intends to refinance its RBL facilities in H2.As at March 31, 2017, total facility headroom and free cash was $1.2 billion and net debt at $4.6 billion.Capex guidance for 2017 remains unchanged.Offshore Ghana, Jubilee FPSO interim spread mooring completed in feb; TEN field performed in line with expectations.Successful exploration, appraisal drilling and water injectivity testing campaign ongoing in Kenya, with new exploration wells planned.  Full Article

Kenya cuts local communities' share of oil revenue

NAIROBI Kenya has cut the share of revenue communities receive from local oil discoveries to 20 percent from an earlier offer of 30 percent, a senior government official said on Friday.