Company
Tullow Oil PLC
LON:TLW
Tullow Oil PLC is a leading independent oil and gas, exploration and production group and is quoted on the London and Irish Stock Exchanges. The group has interests in over 90 production and exploration licences in 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.
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Tullow Oil says it has delivered on ops and financial targets for 2022
Production being in-line and cuts to some spending plans see Tullow strengthening its balance sheet
Tullow Oil reinstated at 'overweight' by Barclays following Capricorn Energy merger termination
The Barclays analysts said the Capricorn merger was just an opportunity to accelerate a strategy that Tullow is already successfully executing
Tullow Oil still 'fully committed' to Capricorn Energy merger
Capricorn has received criticism from major investors over the deal
Tullow Oil slides as it gets another duster in Guyana
"Tullow’s disappointing run of high impact exploration wells continues," said one analyst
Tullow Oil maintains guidance, eyes progress in Capricorn merger
"The combined group will be well positioned to play a leading role in the African energy sector, delivering material value for all shareholders and our host nations," said CEO Rahul Dhir.
Tullow Oil and Capricorn Energy agree to merge
It will be a producer of nearly 100,000 barrels per day and have a pipeline for growth across Kenya, Ghana, Egypt, Gabon and Côte d'Ivoire as well as exploration possibilities in Guyana and Mauritania
Tullow Oil maintains production guidance; flags Africa opportunities
“As a responsible operator with a long history in both West and East Africa, Tullow is uniquely positioned to benefit from the opportunities presented by this period of flux,” CEO Rahul Dhir will tell the company's AGM later
Tullow Oil names Jonathan Swinney CFO
Richard Miller, currently group financial controller, will act as interim CFO
Tullow Oil looks to grow again with Ghana deal
"Tullow’s finally able to make some strategic moves. Hopefully this is the first of many," one analyst said.
Tullow Oil skips guidance upgrade despite soaring crude prices
Hedging will cap Tullow’s oil sale prices through 2022, with three-quarters of output forward sold at up to US$76 per barrel.
Tullow Oil shares up despite swings-n-roundabouts morning
A milestone payment of US$75mln comes in from a deal in Uganda whilst US$76mln goes out after Norwegian tribunal rules against company.
Tullow Oil sticks with full-year production guidance, hails Ghana performance
Chief executive Rahul Dhir described a strong operational performance, in Ghana, and said a recent drill programme was a success
Tullow Oil shares rise as it turns in first-half profit
“Our West Africa production assets have performed well, and we are narrowing production guidance for 2021 to the upper end of the range,” Rahul Dhir said
Tullow Oil shares lifted by excellent first half progress
The recently refinanced oiler said it has seen excellent operational and financial progress in the six months ended June 30
Tullow Oil says improvement plans is delivering results
The company reported progress in Ghana and Kenya ahead of its AGM later today.
Archive
Fed rates decision to be Wednesday’s key focus
The meeting of the Federal Open Market Committee this month is particularly important as it will include a new version of the committee’s economic projections and members’ updated forecasts for growth, inflation, and the much-watched ‘dot p
Tullow Oil launches US$1.8bn bond offer as it aims to move out maturities
Tullow's debt pile stands at around US$2.4bn with just shy of US$1bn presently due in 2021 and 2022.
Tullow Oil starts new drilling programme offshore Ghana
"Today is an important milestone in the implementation of our long-term Business Plan"
Tullow Oil’s Suriname exploration well finds 'only minor oil shows'
The company said it will assess the well data before it makes further decisions for the 50% owned exploration project
Tullow Oil reports loss as it makes US$1.23bn of exploration write-offs
"We are now executing a robust, cash generative business plan which is focused on our most productive assets,” said Rahul Dhir
Archive
Oil price, Union Jack, Wentworth, Sterling Energy. And finally…
A number of factors unravelling in the last 24 hours have meant that it looks like oil at $61 and $65 respectively is probably enough, at least for the time being. The fact that it seems right has nothing to do with it, a squeeze is on and
Tullow Oil met guidance for 2020, production now forecast lower
Tullow guides for 60,000 to 66,000 bopd in 2021, down from the 2020 average production of 74,900 bopd.
Tullow Oil passes latest debt test
The next redetermination of the RBL is slated for February 2021.
Tullow Oil confirms its minimising exploration as it writes off US$1.4bn
New plans for Tullow's assets will be unveiled to investors at a Capital Markets Day, date to be confirmed
Tullow Oil flags write-offs of up to US$1.7bn as it downgrades long-term crude price forecasts
Production remained steady, in line with expectations, but lower than forecast crude oil prices are still a problem for Tullow
Tullow Oil advances Uganda asset sale as CNOOC says pass to pre-emption
The transaction process continues, with tax procedures to come next.
Proactive weekly Oil & Gas highlights: Tullow Oil, SDX, Trinity Exploration & Production, 88 Energy ...
Given that crude prices crashed spectacularly at the start of the week, it is perhaps no surprise that London’s exploration and production firms largely kept a low profile - there were, however, a few standout stories
Tullow Oil unlocks US$500mln cash in Uganda asset sale to Total
It is the first step in a US$1bn asset divestment programme as the Tullow reboot continues.
Tullow Oil names former Cairn India boss, Rahul Dhir as new chief executive
"I am very excited at the opportunity to lead Tullow and re-establish it as an iconic company in our industry," Rahul Dhir said
Tullow Oil reserves-based lending review confirms US$1.9bn capacity
As expected, it confirms US$700mln of headroom and at the same time Tullow has detailed a further US$50mln of savings.
Tullow Oil swings to US$1.6bn loss as write-offs to exploration business are much larger than expected
Tullow's business review resulted in plans to cut 35% of headcount and some US$2bn of asset write-downs, including US$1.25bn against the exploration portfolio.
Investors reeling as crude market rout hammers London's oil stocks
Which stocks have been hit hardest? Who’s under threat? And what comes next for London’s oil and gas investors?
Tullow Oil's Peru campaign off to disappointing start as first well comes up dry
Karoon Energy is the operator while Tullow has a 35% interest in Z-38
Total expects up to three new Guyana wells in 2020, CEO rules out Tullow Oil tilt
Total and Tullow are partnered in a number of growth projects internationally.
Tullow Oil shares rally as trading update passes with no shocks or surprises
Tullow shares rallied to 61.98p but remain significantly below the levels seen in recent years.
Archive
Proactive weekly oil & gas highlights: Tullow Oil, Eco Atlantic, Anglo African Oil & Gas, i3 Energy, G3 Exploration ...
It was a quiet, short week for the junior oil and gas sector.
Tullow Oil’s latest Guyana discovery is a positive boost, even if market speculators have no time for nuance
As one might suspect, fickle speculators latched onto the negative aspect of Thursday's well results but having confirmed 'light sweet' crude the Carapa discovery is significant for Tullow and exploration partner Eco Atlantic.
Archive
Argo Blockchain appoints co-founder as CEO
A look at the day's major movers, including Oracle Power, Caspian Sunrise, Vast Resources, Richland Resources, Tullow Oil and Lekoil.
Tullow Oil reveals discovery of ‘higher quality’ crude offshore Guyana
"The Carapa-1 result is an important exploration outcome with positive implications for both the Kanuku and Orinduik blocks," chief operating officer Mark MacFarlane said.
Tullow Oil: What does boardroom blitz mean for small cap partners?
A shockingly bad trading update, including key senior management departures, sent shares spiralling - but, what does it mean for Tullow's small-cap partners?
Tullow Oil shares crash (again) as CEO exits amid major downgrades to Ghana production
"The board has been disappointed by the performance of Tullow's business and now needs time to complete its thorough review of operations," said chair Dorothy Thompson.
City downgrade actually shows silver lining for Tullow Oil as share sell-off is said to be “overdone”
A reduced target price of 211p still suggests some 55% upside to the oiler's current share price.
Archive
Today's Oil & Gas Update - Tullow Oil, Energean Oil & Gas, Eco Oil & Gas and more..
Tullow Oil (LON:TLW) – Another cut to production guidance Energean Oil & Gas (LON:ENOG): Edison acquisition to complete before year end Eco (Atlantic) Oil & Gas (LON:ECO) – Update on initial analysis of Jethro and Joe wells
Tullow Oil says it will miss production guidance for 2019
Fields in Ghana are underperforming, being below expectations and their potential
Archive
Today's Oil & Gas Update -Tullow Oil and Attis Oil & Gas.
Market Update: Tuesday 22 October 2019 Tullow Oil (LON:TLW): Tullow strengthens its Board, concerns remain over debt position Attis Oil & Gas (LON:AOGL): New Acreage, Drill Programme & Issue of Equity
Tullow Oil closer to unlocking Orinduik’s ‘multi-billion barrel potential’ as it makes new discovery
Exploration director Angus McCoss said: "we are greatly looking forward to the next phase of the programme as we continue to unlock the multi-billion barrel potential of this acreage."
Tullow Oil downgrades full year guidance amid new well delays
Full-year production guidance has moved to 89,000 to 93,000 bopd, down from 90,000 to 98,000 bopd.
Investments and investor services
FTSE 100 closes in red as mining stocks weigh
FTSE 100 closed in the red on Wednesday as miners weighed after a sell-off in iron ore in China
Archive
ITV investors watching for Love Island effect as new boy enters villa
The Conservative Party leadership contest was decided by a relatively convincing margin of 92,153 votes to 46,656, while Love Island commands consolidated viewing figures of more than 5mln
Tullow Oil expects production will rise to 100,000 bopd in second half
"Tullow has made steady progress overall across the business in the first half of the year,” said chief executive Paul McDade.
Archive
FTSE 100 still stuck in neutral; G20 meeting can't come soon enough
Bitcoin is up more than 10% but the shine has come off gold a bit
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Bunzl to take Wednesday spotlight as this week’s only blue-chip update
The FTSE 100 logistics group doesn't normally discuss profits in its trading statements, however if it does in this week's update analysts will be looking at operating margins and its US performance
Tullow Oil set to confirm US$100mln shareholder payouts
“This 2018 final dividend and our new dividend policy, which is expected to deliver at least $100 million per year to shareholders."
Proactive’s weekly oil & gas highlights: Solo Oil, Sound, Eland, Block Energy, Union Jack Oil, 88 Energy, Eco Atlantic, Hurricane Energy
It was another active week in the junior oil and gas sector with project updates, strategy reviews and financial results
Eco Atlantic set for “transformational period” as it selects second well location at Orinduik
The Joe prospect is estimated to host up to 150mln barrels of oil equivalent, with a 43.2% chance of success – which is well above industry averages, said Eco
Tullow Oil sets sights for 2019 production growth
Tullow expects to produce some 93,000 to 101,000 bopd net from its operations in West Africa
Archive
FTSE 100 closes up as markets buoyed by US/China trade talks
The more UK-company focused FTSE 250 gained over 147 points to close at 18,972
Archive
Inflation figures to take focus on Wednesday while corporate results tick over in the background
The data will have a distinctly Brexity flavour after the UK's impending exit from the bloc was blamed for lacklustre GDP growth of 0.2% in the fourth quarter of 2018 reported on Monday
Archive
Blue-chip corporate update mill to continue to grind, with RBS and AstraZenca to the fore
Aside from all the company news, the Week Ahead also brings the latest UK inflation and GDP growth data for investors to digest, while the Brexit saga will continue to roll on
Tullow Oil eyes growth this year as 2018 production lands in line with expectations
“In 2019, we will increase oil production in West Africa, target final investment decisions in East Africa and drill the first wells in an exciting exploration campaign in Guyana."
Archive
FTSE 100 closes lower amid more political noise; Pearson biggest laggard
The UK's blue-chip index closed down around 32 points at 6,862 on the day
Archive
UK data and Brexit in focus as markets poised to digest fallout of deal vote
The result of Parliament's vote on Theresa May's Brexit deal, which is predicted to be defeated, will be at the forefront of the market's mind come Wednesday morning
Archive
Brexit, UK inflation the main focus but retail and housebuilder updates continue to flow
Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Tullow Oil upgraded as RBC sees development and exploration upside
RBC now rates Tullow as ‘outperform’, up from ‘sector perform’, and it has raised its price target to 300p from 275p
Tullow Oil named in Exane’s ‘best ideas’ among E&Ps
Exane rates Tullow at ‘outperform’ with a price target of 250p, suggesting some 38% upside to the current price
Archive
Proactive Weekly Oil & Gas highlights: SDX Energy, Faroe Petroleum, Eland O&G, Providence Resources ...
It was another busy week in the small-cap oil and gas market.
Tullow Oil vows to reinstate dividends
"This is the right time to reinstate a dividend and focus on our plans for growth"
Eco Atlantic Oil & Gas confirms US$12.5mln boost as Total completes Guyana buy-in
With the completion of the Guyana farm-out, the AIM-quoted explorer is now funded for 2019 exploration drilling
Tullow Oil praises “very solid delivery” as fields produce in line with expectations
"This has been another period of very solid delivery from Tullow against the backdrop of continued volatility in the oil price”
Investments and investor services
FTSE 100 closes down nearly 2% as the big sell-off continues
The UK blue-chip benchmark finished down nearly 139 points lower at 7,006 - not far from the 7,000 mark
Providence Resources names Angus McCoss as senior independent director
It comes as Providence continues to progress towards a new appraisal drilling programme for the Barryroe field in Ireland's Celtic Sea
Funding Circle takes a beating in conditional dealing
Some of the main risers and fallers in London on Tuesday...
Proactive Weekly Oil & Gas highlights: Total, SSE, Tullow, Chariot, United Oil & Gas, Cadogan Petroleum, 88 Energy, Aminex
The last week of September, as is typical, brought the obligatory series of financial results statements across the oil and gas sector.