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Tullow Oil

Description

Tullow Oil is a leading independent oil and gas exploration and production company. Thier focus is on finding and monetising oil in Africa and South America. Key activities include targeted exploration and appraisal, selective development projects and growing the company's high-margin production.

The Group has interests in over 85 exploration and production licences across 17 countries which are managed as three business delivery teams: West Africa, East Africa and New Ventures.

CapEx

  • Capital expenditure is forecast to be c.US$265 million in 2021, with an additional c.US$100 million to be spent on decommissioning

Production and reserves
Tullow reported working interest oil production averaged 74,900 bopd bopd in 2020. Group working interest oil production is forecast to average 60-66,000 bopd in 2021.

Tullow’s audited 2P reserves have increased from 243 mmboe at the end of 2019 to 260 mmboe at the end of 2020. Based on 27 mmboe of 2020 production, this represents an organic reserves replacement ratio of c.160%, underpinning the business plan presented at the CMD. This was largely driven by a 31.5 mmboe increase at Jubilee following improved field performance and the acceleration of development projects in the new plan. Tullow’s audited 2C resources decreased from 1,102 mmboe to 640 mmboe, largely resulting from the Uganda asset sale.

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Related news

Tullow Reports 2023 Full Year Results
06/03/2024
Tullow Provides Operational Update
24/01/2024
Tullow Oil announces trading update
15/11/2023
Tullow secures $400 million five-year debt facility
13/11/2023
Tullow Announces Gabon Licence Extensions
09/08/2023
Tullow and Partners Agree Amendment to Ghana Interim Gas Sales Agreement
03/08/2023
Jubilee field producing over 100,000 bopd
17/07/2023
Tullow Announces Start-up of Jubilee South East Project
14/07/2023
Tullow Provides Côte d'Ivoire Update
12/06/2023
Tullow Provides Kenya Update
23/05/2023
Tullow signs asset swap agreement with Perenco in Gabon
30/04/2023
Tullow announces Full Year Results
08/03/2023
Tullow Ghana Refers Disputed Tax Claims To International Arbitration In London
15/02/2023
Tullow Provides Trading Statement & Operational Update
25/01/2023
Tullow Appoints Richard Miller as Chief Financial Officer
09/12/2022
Tullow Oil provides Operational Update
16/11/2022
Tullow Oil announces its Half Year results
14/09/2022
Tullow Provides Trading Statement & Operational Update
13/07/2022
Tullow Oil and Capricorn Energy agree all-share combination
01/06/2022
Tullow statement from CEO, Rahul Dhir, ahead of AGM
25/05/2022
Tullow reports full year results
09/03/2022
Tullow Provides Operational Update
26/01/2022
Tullow Appoints Phuthuma Nhleko as non-executive Chairman
25/10/2021

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