Tullow Oil News

 

Tullow Oil Sticks to Capricorn Merger Plans, $200M Cashflow Guidance

Sep 14, 2022

Africa-focused Tullow Oil said on Wednesday it would stick to the current form of its plan all-share merger plan with Capricorn Energy CNE.L, shrugging off criticism from some Capricorn investors who say the deal undervalues the company.Capricorn's board supports the merger…

Tullow Oil to Delist from Euronext Dublin Bourse

Sep 13, 2022

Africa-focused Tullow Oil said on Monday it would exit Ireland's Euronext Dublin bourse on or around Oct. 10 to cut costs.'It is anticipated the delisting will simplify compliance and regulatory obligations of Tullow and is in line with an overall objective to reduce central costs and its purpose…

Capricorn Investor Palliser Calls on Management to Abandon Tullow deal

Aug 09, 2022

Capricorn Energy should ditch its proposed merger with Tullow Oil, investor Palliser has said in a letter seen by Reuters, describing it as 'one-sided' and short of 'meaningful strategic rationale.''The Proposed Merger appears to us to be a…

Tullow Oil Abandons Guyana Well After Dismal Drilling Results

Aug 05, 2022

Tullow Oil said on Friday it would abandon drilling operations at Beebei-Potaro exploration well in offshore Guyana after results showed the well bore water.The group, which holds 37.5% of the Kanuku block where the well lies, said it would…

No Changes Needed to Planned Capricorn Merger, Tullow Oil CEO Says

Jul 13, 2022

Tullow Oil Chief Executive Rahul Dhir said on Wednesday no tweaks to the planned all-share merger with Capricorn Energy were necessary, when asked about criticism about the deal as it stands from some Capricorn shareholders.Dhir said Tullow was talking to shareholders of both companies…

Tullow Expects Cashflow of $200M at Oil Price of $95/bbl

Jul 13, 2022

Africa-focused Tullow Oil said on Wednesday it expected to make $200 million in free cashflow this year at an average oil price of $95 a barrel, adding that it sees no cashflow in the first half after an arbitration payment and an acquisition…

Tullow Oil Taps Petrofac of O&M Services at Ghana FPSO

Jul 05, 2022

London-listed oilfield services giant Petrofac has won a contract with the oil firm Tullow Oil to provide operations services for Tullow's Jubilee Development offshore Ghana.Petrofac’s role in the Jubilee development in Ghana – one of the largest…

Tullow Oil to Buy Capricorn Energy in Deal Valued $826.7M

Jun 01, 2022

Tullow Oil will acquire Capricorn Energy in an all-stock deal worth 656.9 million pounds ($826.7 million), keeping a focus on African reserves amid soaring energy prices.Investors in Capricorn, formerly known as Cairn Energy, will receive 3…

Petrofac Takes Over Maersk Decom's Work at Tullow Oil's Fields Offshore Mauritania

May 18, 2022

Oilfield services company Petrofac has won a contract with Tullow Oil to provide well-decommissioning services in Mauritania, taking over from Danish company Maersk Decom, which said it would close down the company.The contract, with a potential total value of more than $60 million…

Tullow Oil Sees Ghana Offshore Fields Production at 150,000 boe/d by 2025

Mar 09, 2022

West Africa-focused Tullow Oil's chief executive TLW.L said on Wednesday its Jubilee offshore oilfield in Ghana could produce 100,000 barrels of oil equivalent per day (boe/d) and the TEN field 50,000 boe/d by 2025 under current spending plans…

Tullow Oil Sees 2021 Free Cashflow at $250M

Jan 26, 2022

West Africa-focused Tullow Oil expects its 2021 free cash flow to come in higher than previously forecast at $250 million and expects this year's cash flow to come in at $100 million at an oil price of $75 a barrel, it said on Wednesday.Tullow…

Tullow, PetroSA Pre-empt Kosmos, Oxy Offshore Deal in Ghana

Nov 12, 2021

Oil and gas companies Tullow Oil and PetroSA have decided to pre-empt the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields offshore Ghana to Kosmos Energy, as announced in October.This doesn’t mean Kosmos will not increase its interests in the said fields…

Tullow Oil Names Chairman-designate

Oct 25, 2021

Africa-focused Tullow Oil Plc named Phuthuma Nhleko, former boss of South African telecom major MTN Group, as chairman-designate on Monday, a role that he also holds at the Johannesburg Stock Exchange Ltd.Nhleko, a South African national, will…

Tullow Oil Expects Full-year Cashflow of $600M

Jul 14, 2021

Africa-focused Tullow Oil expects a full-year operating cashflow of $600 million, steady from last year, if the oil price averages $60 a barrel for the rest of the year, it said on Wednesday.If oil prices, currently at around $76 a barrel, average $70 for the remainder of the year…

Gabon: Panoro Energy Completes Dussafu Permit Transaction

Jun 09, 2021

Panoro Energy has completed the purchase of an additional 10% working interest in the Dussafu Marin permit, offshore Gabon, from Tullow Oil.Following the completion, Panoro-Gabon holds a 17.4997% non-operated working interest in the Dussafu Marin permit…

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