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United Kingdom

Tullow Oil PLC (TLW.L)

TLW.L on London Stock Exchange

207.30GBp
24 May 2019
Change (% chg)

-0.50 (-0.24%)
Prev Close
207.80
Open
210.60
Day's High
212.20
Day's Low
205.40
Volume
5,181,648
Avg. Vol
5,263,195
52-wk High
273.90
52-wk Low
163.30

Latest Key Developments (Source: Significant Developments)

Tullow expects to pay less than $167 mln in Uganda tax after Total deal
Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - Tullow Oil PLC ::TULLOW OIL CEO SAYS SEES NET DEBT AT END 2019 AT $2.5 BILLION AT OIL PRICE OF $60/BBL.TULLOW OIL CEO SAYS DOES NOT EXPECT TO PAY AS MUCH AS THE $167 MILLION INITIALLY ASKED FOR BY UGANDA GOVERNMENT FOR TOTAL DEAL.TULLOW OIL CEO SAYS KENYA GOVERNMENT HAS "REAL UNDERSTANDING" OF APPROPRIATE RETURN FOR INVESTORS IN PLANNED PIPELINE.TULLOW OIL CEO SAYS STILL PLANS TO REDUCE STAKE IN KENYA AT SOME POINT, BUT FOCUS NOW IS ON PUSHING FINAL INVESTMENT DECISION.  Full Article

Tullow Oil Narrows FY Oil Production Forecast
Thursday, 15 Nov 2018 

Nov 15 (Reuters) - Tullow Oil PLC ::FY OIL PRODUCTION GUIDANCE NARROWED TO 87-91,000 BOPD.SEES FY FREE CASH FLOW TO BE ABOUT $700 MILLION; SEES NET DEBT ABOUT $2.8 BILLION BY YEAR-END.SEES FY GAS PRODUCTION TO AVERAGE AROUND 2,300 BOEPD.SEES FY PRODUCTION FOR OIL & GAS TO AVERAGE BETWEEN 89,300 BOEPD AND 93,300 BOEPD.REDUCED FY CAPITAL EXPENDITURE GUIDANCE TO ABOUT $430 MILLION AFTER SAVINGS, FARM-DOWNS & WORK PROGRAMME DEFERRALS.SEES FY PRODUCTION FROM JUBILEE, INCLUDING PRODUCTION-EQUIVALENT PAYMENTS OF AROUND 36,800 BOPD.SEES FY PRODUCTION FROM TEN FIELDS TO AVERAGE AROUND 65,000 BOPD.SEES PRODUCTION IN EARLY 2019 FROM TEN FIELDS TO INCREASE TO AROUND 80,000 BOPD.GUYANA WILL BE THE MAIN FOCUS OF CO'S 2019 EXPLORATION DRILLING PROGRAMME.  Full Article

Tullow Oil Closes $800 Mln Senior Notes Offering
Friday, 23 Mar 2018 

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 

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 

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 

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 

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 

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 

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 

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

UPDATE 1-Argentina grants offshore oil, gas exploration permits in Malvinas West basin

BUENOS AIRES, May 17 Argentina awarded permits for hydrocarbon exploration in 18 areas off its southern coast to companies including Exxon Mobil Corp, Total SA , YPF SA and Royal Dutch Shell Plc, the government said on Friday.