|Bid||215.00 x 70000|
|Ask||249.00 x 153700|
|Day's Range||240.60 - 247.80|
|52 Week Range||158.90 - 279.30|
|PE Ratio (TTM)||16.25|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.24|
* Total says has exercised option to buy a 25 pct interest in Orinduik exploration block offshore Guyana. * Orinduik operated by Tullow Oil off Guyana contains an estimated 3 billion barrels of oil and gas, its partner Eco Atlantic said on Tuesday, as the two firms prepare to drill in the Latin American oil basin. * Tullow plans to begin drilling in the block in the third quarter of 2019, with Eco indicating it will begin "early" in the quarter.
Tullow Oil (TLW.L) plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik licence bordering discoveries by Exxon (XOM.N), a spokesman said on Wednesday. Exxon and U.S. partner Hess Corp (HES.N) have said that more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block off Guyana, which is part of one of the world's biggest oil discoveries in the past decade. Tullow owns 60 percent and Eco Atlantic Oil and Gas (EOG.V) 40 percent in Orinduik.
Tullow Oil plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year.
In what could be a detrimental blow to the Kenyan oil industry, Tullow Oil has shuttered operations in the Lokichar Basin, citing that the Kenyan government has not done enough to address security, transportation and production problems
Tullow Oil (TLW.L) has stopped work at its Kenyan oilfields and halted trucking operations after protests by the local community disrupted a transport scheme, its chief executive said on Wednesday. The British company aims to produce the first oil from the $2.9 billion Kenya project by 2021, which would open up the country's oil industry to exports. Kenyan media said the protests were to demand the deployment of more security forces in the area, which has long been plagued by banditry and cattle rustling.
Africa-focused Tullow Oil (TLW.L) will use free cashflow of $401 million (304.78 million pounds) to pay down debt and invest rather than pay an interim dividend, it said on Wednesday, after having raised the possibility of a return to payouts. Tullow returned to profit last year after three years in the red and Chief Financial Officer Les Wood in April indicated that the company could start to pay dividends again. "The Board considered carefully whether to pay an interim dividend but concluded that, for the moment, free cash flow is best used to continue to pay down debt and to invest in assets," Tullow said in a statement.
South Africa’s tax agency filed a legal claim against local billionaire Christo Wiese and former executives at law firm ENSafrica for more than 217 million rand ($16 million) in unpaid taxes, court documents show. The papers filed in the Western Cape High Court is part of a wider 3.7 billion rand claim by the South African Revenue Service, according to a report in the Financial Mail published earlier Thursday. The story was written by journalists at the amaBhungane Centre for Investigative Journalism.
Tullow Oil Plc may shut down operations in northern Kenya in two weeks unless persistent issues with local residents, which threaten progress of the project, are resolved. Tullow, along with partners Africa Oil Corp. and Total SA, plans to make a final investment decision next year to ramp up production by 2021 and develop a pipeline to ultimately transport the estimated 560-million-barrel resource. Tullow has enough supplies to run its Kapese Integrated Operation Base for another 14 days, “after which we will have no option other than a complete shut-down of the camp,” the company said in an emailed statement.
Kenyans protesters demanding more security in the north of Kenya have blocked trucks carrying oil from Tullow's (TLW.L) fields, the British energy company said on Wednesday. The truck scheme aims to transport about 2,000 barrels per day (bpd) of crude from northern oil fields to the coast to test oil flow rates and other technical issues before the start of full production and exports via a pipeline to be built by 2022. "Tullow confirms that there have been interruptions to the trucking of crude oil in Turkana County.
A London judge ordered Tullow Oil to pay rig owner Seadrill around $254 million saying Tullow was wrong to end a rig contract in Ghana on grounds of force majeure over a maritime dispute, Tullow said on Tuesday. Tullow cancelled the contract for Seadrill's West Leo rig in December 2016 after Ghana set a drilling moratorium on its TEN offshore oil and gas field which is located in waters then claimed by both Ghana and Ivory Coast.
1036 GMT - Peel Hunt expects Anpario’s first-half sales to be similar to the year-earlier period, with unfavorable foreign-exchange rates offsetting high single-digit growth on a constant currency basis. Peel Hunt says profit performance for the period will likely be similar to that for the first half of 2017. The oil-and-gas company said it now expects production to be between 89,000-95,000 barrels of oil equivalent a day compared with a previous range of 86,000-95,000 barrels of oil equivalent.
Tullow Oil (TLW.L) on Thursday raised its 2018 production outlook to 86,000-92,000 barrels of oil per day from 82,000-90,000 bopd, boosted by its offshore fields in Ghana. Tullow said it is preparing for the London Commercial Court to decide on a $277 million claim brought by Seadrill over the termination of the West Leo rig contract for force majeure in Ghana. Tullow has set aside $128 million in case it loses.
Peruvian Finance Minister David Tuesta resigned on Monday as truck and bus drivers called off plans for a major protest against his fuel tax hikes and the president promised to shift the focus on collecting taxes owed by big companies. The finance minister's resignation marks the biggest setback yet for President Martin Vizcarra since he became president in late March to replace Pedro Pablo Kuczynski, a former Wall Street investor who stepped down in a graft scandal.
Tullow Oil (TLW.L) is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade said on Thursday. Tullow is leading two operations offshore Ghana, including the country's flagship 100,000 barrel-per-day Jubilee field, which began commercial production in late 2010. Ghana's energy ministry said this month it would award nine new upstream oil blocks for commercial exploration off its coast beginning this year.
Tullow Oil is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade says.
Tullow Oil hires Wood to design a pipeline needed to bring crude from Kenya's Lokichar onshore fields to Lamu on the Indian Ocean coast.