Tullow Oil plc (Tullow) issues the following business and full year guidance update. Tullow’s next scheduled update will be its Trading Statement on 24 January 2024. The information contained herein has not been audited and may be subject to further review and amendment.
Tullow OIl (LON: TLW) share price has staged a comeback in the past three months even as short interest in the company rose. The stock ended last week at 35.68p, the highest level since March 6. It has soared by over 60% from its lowest point this year.
Tullow and the Jubilee Partners are working to increase daily average production to over 100,000 barrels of oil per day (bopd) from the Greater Jubilee Field during the second half of 2023, when the Jubilee South-East (JSE) Area development is up and running.
Tullow Oil is a reputed name among the world’s top-performing oil companies.
‘2022 saw Tullow successfully deliver against our business plan. A high focus on cost control and a disciplined approach to operational efficiency has driven a very strong performance for the year, with group production in line with guidance and expectations, delivering free cash flow of $267 million, lowering net debt to $1.9 billion and reducing cash gearing to 1.3x net debt to EBITDAX.
Tullow Oil and Forestry Commission have signed a Letter of Intent with the Forestry Commission of Ghana to progress its nature-based carbon offset opportunity beyond the initial project feasibility study.
Independent oil and gas exploration and production company Tullow Oil has named Roald Goethe as its new independent non-executive Director.
Kenya’s president William Ruto is imposing strict conditions on any change of ownership deal for oil blocks in the northwestern Turkana region.
Tullow Oil Plc (TLW.gh) listed on the Ghana Stock Exchange under the Energy sector has released it’s 2022 interim results for the forth quarter.
Tullow Oil Plc has announced that Tullow Ghana Limited (TGL) has filed requests for arbitration with the International Chamber of Commerce in London in respect of two disputed tax assessments received from the Ghana Revenue Authority (GRA).