Tullow Oil News

 

Tullow to Spud Suriname Well in 2021. Will Hire Drilling Rig Soon

Jul 29, 2020

London-listed oil and gas exploration and production firm Tullow Oil expects to hire an offshore drilling rig soon for drilling operation in Suriname.The company said Monday that the drilling of the Goliathberg-Voltzberg North prospect (GVN…

Tullow to Book $1.7B Impairment. Lowers Oil Price Forecast

Jul 29, 2020

Tullow Oil said on Wednesday it was set to book $1.4-1.7 billion in impairments before tax in its half-year results, as it follows larger rivals in lowering its oil price forecasts.Tullow, which had a market capitalization of around $508 million after markets closed on Tuesday…

Tullow Says 58 Workers Test Positive for COVID-19 Offshore Ghana

May 29, 2020

Fifty-eight workers tested positive for COVID-19 at an oil production facility run by Tullow Oil off Ghana's Atlantic coast, the company said in a statement on Friday,Fifty-seven workers tested positive on a support vessel for a floating production and storage (FPSO) unit…

Tullow Oil Names CEO

Apr 21, 2020

London-listed oil company Tullow Oil has appointed Rahul Dhir as Chief Executive Officer and an Executive Director of the Group.Dhir will begin under his new role from July 1, 2020 and Dorothy Thompson, currently, Executive Chair of Tullow will…

Maersk Drilling Loses Two Offshore Rig Deals

Apr 20, 2020

Danish offshore drilling company Maersk Drilling has said it has received early contract termination notices for two of its drilling rigs.Maersk Drilling said Friday that Shell had the contract for the semi-submersible Mærsk Developer 'with immediate effect…

Tullow Gets 'Much-Needed' Breathing Room

Apr 03, 2020

Tullow Oil's lenders have approved the size of its reserves-based lending facility at $1.9 billion, giving the group $700 million of undrawn loans and cash at the start of the second quarter, it said on Friday.The company also said it was cutting its 2020 capital expenditure to $300 million…

ExxonMobil Shortens Term for Shelf Drilling Jack-Up

Mar 24, 2020

Jack-up drilling company Shelf Drilling, one of the world's largest jack-up contractors by fleet size, has seen another rig contract cut short in less than a week.After it on Friday said Dubai Petroleum would reduce the length of the Shelf Drilling…

Tullow Rescinds Maersk Drillship Contract

Mar 24, 2020

Oil company Tullow Oil has terminated the drilling contract with Maersk Drilling for the Maersk Venturer drillship in Ghana.Maersk Drilling said Tuesday it had received a notification from Tullow Ghana 'of early termination for convenience of the drilling contract…

Tullow Oil Future in Doubt

Mar 12, 2020

Tullow Oil said on Thursday the oil price fall may jeopardize a planned $1 billion in asset sales needed to refill its coffers, raising the risk the group's lenders may become reluctant to approve loans essential to shoring up its future. The…

Tullow Cuts Capex. Cash Flow to Slide

Mar 12, 2020

Africa-focused Tullow Oil expects its free cash flow to slide to $50 million to $75 million this year at an oil price of $50 a barrel, and to break even at prices of $45 a barrel, it said on Thursday. Free cash flow at the group had already fallen last year to $355 million from $411 million in 2018…

Neptune Energy Names UK MD

Mar 10, 2020

Oil and gas company Neptune Energy has informed that Alexandra Thomas has joined the company as UK Managing Director, based in Aberdeen.Thomas joins Neptune from Tullow Oil plc, where she most recently held the position of Head of Exploration…

Maersk Decom P&A Services for Tullow's Mauritania Wells

Feb 27, 2020

Denmark's Maersk Decom has won a contract for complete plugging and abandonment of Tullow Oil’s Banda and Tiof fields offshore Mauritania.This is Maersk Decom's first project where the company will provide an end-to-end plugging and abandonment solution under one single contract…

Total CEO Dismisses Tullow Takeover Idea

Feb 11, 2020

Total Chief Patrick Pouyanne dismissed the idea it might buy its partner in East Africa and Guyana, Tullow Oil, whose share price slumped to 19-year lows in December over a string of bad news, stoking takeover speculation.Total is a partner…

Tullow to Axe a Third of Its Workforce

Feb 05, 2020

Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana, delays in East Africa and lower-than-hoped-for oil quality in Guyana…

Tullow: No Guyana Drilling in 2020

Jan 16, 2020

London-listed oil company Tullow Oil will most likely not be drilling any wells offshore Guyana in 2020.In its trading update on Wednesday Tullow said it expected to report pretax impairments and exploration write-offs of around $1.5 billion…

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