Tullow Oil Share Discussion Threads

[aalli] 11/3/2021 16:11

It wants to see 55p in the rear view mirror!

[gibbs1] 11/3/2021 13:07

TULLOW OIL PLC (TLW)
Real-time Estimate Quote. Real-time Estimate Cboe Europe - CXE - 03/11 01:04:00 pm


53.46 GBX +1.02%

[gibbs1] 11/3/2021 13:04

ENERGYMIXREPORT


Africa focused Tullow Oil leverages rising oil prices to speed debt repayment
Mar 11, 2021

Tullow Oil said it hopes to accelerate debt repayments after crude prices climbed to a one-year high.

The Africa-focused producer, saddled with $2.4 billion of net debt, is among oil firms buoyed by the recent surge in prices as demand gradually recovers from 2020’s unprecedented slump. Tullow’s shares have jumped more than 80% this year as the company starts to turn its back on a tough period of drilling setbacks, management departures, collapsing prices and mounting borrowings.

Chief Executive Officer Rahul Dhir, who took over last July, is putting the explorer’s West Africa assets at the core of an investment plan aimed at cutting costs and shoring up the balance sheet.

Tullow could quicken debt repayments, Chief Financial Officer Les Wood said in an interview on Wednesday, while Dhir suggested it could also ramp up drilling in West Africa by adding a rig if crude prices remain strong. The company already plans four wells in Ghana from April.

The shares climbed as much as 5%, and traded up 3.8% at 53.94 pence as of 10:24 a.m. in London.

Debt Erosion

Like its peers around the world, Tullow suffered the effects of the coronavirus crisis, with oil markets crashing as demand sank. It reported a 2020 loss of $1.2 billion, citing exploration writeoffs and impairments, and “pre-financing” cash flow of $625 million. It sees that cash flow at about $200 million this year at $50 a barrel. Brent crude is currently trading above $67 in London.

Sustained high oil prices would mean a shorter timeline for Tullow to reduce net debt to as low as $1 billion, CFO Wood said. The company has been discussing refinancing options with creditors.

“Management remain deliberately coy about refinancing plans as they work to resolve 2021-22 debt maturities, but the combination of self-help and improvement in Brent prices can only aid negotiations with creditors,” James Hosie, an analyst at Barclays Plc, said in a note.

Tullow also said Wednesday it’s committing to carbon neutrality by 2030 and aims to eliminate gas flaring by 2025. The company plans to be “net-zero̶1; on Scope 1 and 2 emissions by the end of the decade, by boosting operational efficiency and potentially by using carbon offsets. That refers to emissions from Tullow’s own operations, as opposed to Scope 3, which are those generated from energy products used by its customers.



Source: World Oil

[proj] 11/3/2021 11:45

Yes, I think the shorters must be sweating buckets now.

Every day, their losses are growing.

They're already retreating, but when that gains momentum it'll be fun.

GL all.

[kulvinder] 11/3/2021 11:33

Obviously, his shorter mate is squealing, so had to put a negative note out...

[proj] 11/3/2021 11:09

54/55p proving a tad tricky.

LOL, I remember when 34/35p was.....a few weeks ago?!

This steady re-rate is so much more sustainable than crazy jumps. Every move up gets TLW shares into stickier hands (as opposed to the 10%-ers).

GL all.

[janhar] 11/3/2021 11:04

Sell note out today saying debt is unsustainable - target price 30p. swimming against the tide imv

[uzzymaz] 11/3/2021 08:05

Should reach atleast 60p today imo

[fizzmiss] 11/3/2021 07:57

UP today IMHO

[waldron] 11/3/2021 07:51

European markets head for higher open after approval of U.S. Covid stimulus

Published Thu, Mar 11 20211:08 AM EST

Holly Ellyatt
@HollyEllyatt


Key Points

European stocks are expected to open higher Thursday, as markets react to positive momentum stateside following the final approval of President Joe Biden’s $1.9 trillion Covid relief bill.

London’s FTSE is seen opening 19 points higher at 6,738, Germany’s DAX 40 points higher at 14,574, France’s CAC 40 up 16 points at 6,004 and Italy’s FTSE MIB 94 points higher at 24,009, according to IG.

[kulvinder] 10/3/2021 21:53

The news just gets better...I just hope it goes back up to 144 as quickly as it came down when the sh*t hit the fan in the past 18 months.

[mcsean2164] 10/3/2021 20:33

It's no longer in the top five most shorted...

hxxps://shorttracker.co.uk/company/GB0001500809/

[asadme] 10/3/2021 19:26

hxxps://youtu.be/XgKDyI4am_U

[waldron] 10/3/2021 19:14

Businesslive.co.az


Tullow Oil to leverage higher crude prices to speed up debt repayments

Tullow commits to carbon neutrality by 2030 and aims to eliminate gas flaring by 2025
10 March 2021 - 18:07 Paul Burkhardt

London — Tullow Oil said on Wednesday it hoped to accelerate debt repayments after crude prices climbed to a one-year high.

The Africa-focused producer, saddled with $2.4bn of net debt, is among oil firms buoyed by the recent surge in prices as demand gradually recovers from 2020’s unprecedented slump. Tullow’s shares have jumped more than 80% in 2021 as the company starts to turn its back on a tough period of drilling setbacks, management departures, collapsing prices and mounting borrowings.

CEO Rahul Dhir, who took over last July, is putting the explorer’s West Africa assets at the core of an investment plan aimed at cutting costs and shoring up the balance sheet.

Tullow could quicken debt repayments, CFO Les Wood said in an interview on Wednesday, while Dhir suggested it could also ramp up drilling in West Africa by adding a rig if crude prices remain strong. The company already plans four wells in Ghana from April.


The shares climbed as much as 5%, and traded up 3.8% at 53.94p in London.

Like its peers around the world, Tullow suffered the effects of the coronavirus crisis, with oil markets crashing as demand sank. It reported a 2020 loss of $1.2bn, citing exploration write-offs and impairments, and “prefinancing” cash flow of $625m. It sees that cash flow at about $200m in 2021 at $50 a barrel. Brent crude is now trading above $67 in London.

Sustained high oil prices would mean a shorter timeline for Tullow to reduce net debt to as low as $1bn, Wood said. The company has been discussing refinancing options with creditors.

“Management remain deliberately coy about refinancing plans as they work to resolve 2021/2022 debt maturities, but the combination of self-help and improvement in Brent prices can only aid negotiations with creditors,” James Hosie, an analyst at Barclays, said in a note.

Tullow also said on Wednesday it’s committing to carbon neutrality by 2030 and aims to eliminate gas flaring by 2025. The company plans to be “net-zero̶1; on Scope 1 and 2 emissions by the end of the decade, by boosting operational efficiency and potentially by using carbon offsets. That refers to emissions from Tullow’s own operations, as opposed to Scope 3, which are those generated from energy products used by its customers.

Bloomberg

[stampylong trader] 10/3/2021 19:12

TLW has held up well today - shorts have no choice but the close out, otherwise they are relying "hope" which is NOT a trade plan.

[fizzmiss] 10/3/2021 19:12

Oil flying again should be up tomorrow.

[waldron] 10/3/2021 17:08

TULLOW OIL PLC (TLW)

Delayed Quote. Delayed London Stock Exchange - 03/10 04:35:15 pm

52.92 GBX +1.85%

[dbensimon] 10/3/2021 16:23

Sold closed position at 54. I'll see what happens next few days before going back as I think there is much more room for a rise in the share price

[aalli] 10/3/2021 15:07

Brent wants to hit $70

[bogman1] 10/3/2021 14:48

Good points booty, no mention of the potential of the oil price to fall tho. Still no planes in the air. It's only the oligopoly that's keeping it up here. Still holding onto my shell but that is less risk/reward than here, I can see myself missing out on good profits tho!

[asadme] 10/3/2021 14:07

Great video.
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