Tullow Oil Share Discussion Threads

[alfiex] 19/3/2018 09:14

Being manipulated again

[mcsean2164] 19/3/2018 08:57

1% extra per year is $8million, not to be sneezed at. Also, worrying the took the extra money.... I would prefer them to pay down debt and then give out dividends rather than borrowing to pay dividends but maybe not the worst idea.

[sux_2bu] 17/3/2018 18:49

Looks like next weeks rockets are primed for blast off.

[nicebut] 17/3/2018 11:54

...And more dosh, should they need it- which they might not.

[xxnjr1] 16/3/2018 21:36

After hours RNS:-

Tullow Oil plc ("Tullow" or the "Company") is pleased to announce that it has priced its offering of $800 million aggregate principal amount of 7% senior notes due 2025 at par (the "Notes"). The size of the offering has been increased from $650 million, indicated at launch on 12 March, to $800 million....

More expensive coupon than the debt it's replacing (6%).

[sux_2bu] 16/3/2018 17:49

www.bloomberg.com/news/articles/2018-03-16/congo-grants-total-extension-to-oil-exploration-permit-on-border

[alfiex] 16/3/2018 16:31

Oil up nearly 2$ thats why the bounce

[nicebut] 16/3/2018 16:28

It was kind of over sold. IMO

[sux_2bu] 16/3/2018 15:37

Some bounce back today.

[sux_2bu] 15/3/2018 16:05

Back in recovery

[sux_2bu] 15/3/2018 15:42

Crikey, hammered again.

[mcsean2164] 15/3/2018 14:06

Probably covering themselves in case of a downturn in oil....

[xxnjr1] 14/3/2018 22:46

EIA
Stock Build Oil +5m barrels.
Stock Build Gasoline -6m barrels.
US Weekly Prod'n +12k boepd (New record).
Oil Price flat on the day, which is probably a result.

[sux_2bu] 14/3/2018 18:56

S&P Upgrades Tullow Oil To B+ Credit Rating Amid Deleveraging Success
Mon, 12th Mar 2018 14:28

LONDON (Alliance News) - S&P Global Ratings upgraded the credit rating for the oil and gas exploration firm Tullow Oil PLC on Monday to B+ from B with a Stable outlook.

The credit rating agency said the upgrade followed the balance sheet deleveraging started in 2017.

This process, S&P analyst Elad Jelasko explained, "will likely accelerate this year". This is due to a mix of "favourable" oil prices, proceeds from asset sales and cost cutting initiatives.

Overall, S&P now anticipated operating free cash flow to be USD700 million in 2018. This is compared to their previous forecast of USD400 million.

Adjusted earnings before interest, tax, depreciation and amortisation is expected to be between USD1.5 billion and USD1.6 billion in 2018. This is ahead of the USD1.1 billion to USD1.2 billion originally forecast.

In 2019, however, S&P forecast adjusted Ebitda to fall to between USD1.2 billion and USD1.4 billion. This is based on the assumption of a lower oil price. S&P forecasts an average share price of USD60 per barrel in 2018 and USD55 per barrel in 2019.

"With no material changes in the capital expenditure budget and without a resumption in dividends," S&P explained, "the company would be able to quickly reduce its absolute debt level while building headroom at the current rating level that should last into 2019."

Tullow's new credit rating could be put under negative pressure should its projects experience delays or reduced production or if there was a "material decline" in oil prices below USD50 per barrel. Price hedges in this case, S&P argued, would only provide "temporary relief" in this context.

S&P also cautioned that should Tullow return to a higher capital expenditure mode the credit rating would come under pressure. In 2017 capex stood at USD300 million down from USD1.0 billion in 2016 and USD2.0 billion in 2015.

Earlier on Monday, Tullow proposed to raise USD650 million through senior secured notes due in 2025. The proceeds from this would go towards redeeming in full its senior notes due in 2020. Tullow issued a B rating to this proposed note issue.

[sux_2bu] 14/3/2018 18:54

Hi Moneybags

Are you saying the price is down because of an upgrade ?

[moneybags] 14/3/2018 18:41

alfiex..........Because of the S & P Global Upgrade on Tullow.

Regards , MoneyTheWorldsIsUpsideDownBags

[alfiex] 14/3/2018 17:02

Anyone know why we're down with bump today?

[paulbiya] 13/3/2018 18:47

And today lol

[mcsean2164] 13/3/2018 17:19

Hmmm, poo not doing us any favours today but rerating has to be good?

[sux_2bu] 12/3/2018 21:32

Some roller coaster today.

[billy_buffin] 12/3/2018 16:34

S&P Global Ratings upgraded the credit rating for the oil and gas exploration firm Tullow Oil PLC on Monday to B+ from B with a Stable outlook. The credit rating agency said the upgrade followed the balance sheet deleveraging started in 2017.

[alfiex] 12/3/2018 11:36

Thanks xxnjr1 and thanks for link