Tullow Oil News

 

Tullow Oil's Ghana Unit Files for Arbitration on Tax Dispute

Feb 14, 2023

Tullow Oil said on Tuesday its Ghana unit filed for arbitration in London over two tax assessments the West Africa-focused oil producer received from local authorities.The tax assessments Tullow disputes amount to $387 million relating to a period from 2010 to 2020…

Tullow Oil Ups 2022 Free Cash Flow Outlook, Ghana Tax Looms

Jan 25, 2023

West Africa-focused oil producer Tullow sees its 2022 free cash flow at $267 million, slightly ahead of previous guidance and up from $245 million the previous year, it said in a trading update on Wednesday. It plans to invest $400 million this year…

Dana Petroleum Extends Island Innovator for UK Drilling Program

Jan 06, 2023

Norwegian offshore drilling firm Island Drilling announced on Thursday that Dana Petroleum has exercised its option to extend the Island Innovator drilling rig’s assignment in the U.K.The option prolongs an initial 80-day, three-well contract…

Tullow Oil Pens Ivory Coast Offshore Block Deal

Dec 14, 2022

Tullow Oil has signed a production sharing contract (PSC) for Ivory Coast's offshore exploration license CI-803.Tullow will operate the license with 90% equity, with the remaining 10% held by PetroCi. The CI-803 offshore block covers an area of 1…

Tullow Oil Names Miller CFO

Dec 08, 2022

Oil and gas company Tullow Oil has appointed Richard Miller as Chief Financial Officer (CFO) and Executive Director of Tullow. Miller is currently Interim CFO and Group Financial Controller, effective January 1, 2023.Miller has been acting as…

Tullow Oil Narrows Output Forecast Range, Cuts Capex Estimate

Nov 16, 2022

Tullow Oil narrowed its annual production forecast range and cut capital investment expenditure estimate on Wednesday, as the West Africa-focused oil producer attempts to bring down costs after two strategic wells returned disappointing results…

Sparrows Wins FPSO Crane Maintenance Deal in Ghana

Nov 08, 2022

Energy industry engineering and maintenance services company Sparrows Group has secured a two-year contract to provide crane maintenance services onboard Tullow Oil’s FPSO Kwame Nkrumah at the Jubilee offshore oil field in Ghana.Sparrows will be responsible for the maintenance…

Capricorn Investor Palliser Opposes Planned Merger with NewMed

Oct 27, 2022

Capricorn investor Palliser Capital said on Thursday it opposed Capricorn's planned merger with Israel's NewMed Energy, echoing its criticism of a previous failed merger plan with Tullow, as undervaluing the company. The Capricorn-NewMed deal would create an Israel-Egypt-focused gas producer…

Capricorn Energy Drops Tullow Merger Plan in Favor of Israel's NewMed

Sep 29, 2022

Capricorn Energy plans to merge with Israel's NewMed in an all-share deal after paying a $620 million special dividend to its shareholders, ditching a previous scheme to merge with Tullow Oil.The Capricorn-NewMed deal would create an Israel…

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 Explores Other Deals as Tullow Merger Faces Backlash

Sep 06, 2022

Capricorn Energy, whose planned merger with rival Tullow Oil has faced investor backlash, said on Tuesday it was exploring alternative deals after unnamed parties expressed interest.Oil and gas producer Capricorn's proposed $827 million deal with Tullow has faced stiff opposition from investors…

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…

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