Tullow Oil Share Discussion Threads

[kulvinder] 08/3/2023 08:36

Agree, anyone brave enough to buy at 33p?

[mccracken227] 08/3/2023 08:31

Nothing new here hence price drop

[bones698] 08/3/2023 07:54

Debts still far too high ,they should have paid off huge chunks of that while oil prices are high . The fact the haven't paid off much is a concern and even though things are ok for now if oil prices drop this will be in trouble again . Don't think much will happen with the shareprice today on those results.

[grupo] 08/3/2023 07:48

rté

Tullow Oil keeps its 2023 outlook for free-cash flow

Updated / Wednesday, 8 Mar 2023 07:40

Tullow Oil said it plans to invest $400m this year, mainly on its flagship fields in Ghana

West-Africa focused Tullow Oil has reported a 2022 free-cash flow of $267m, up from $245m the previous year and in line with forecasts, supported by increased equity in its Ghana operations and higher oil prices.

Tullow said it plans to invest $400m this year, mainly on its flagship fields in Ghana.

It expects free-cash flow to come in at $100m at an oil price of $80 a barrel, or twice that at $100 a barrel.

This is unchanged from previous guidance.

Tullow hedged 33,100 barrels per day (bpd) of this year's output and 11,300 bpd of 2024's production at between $55 and $75 a barrel.

This year it expects to produce between 58,000 and 64,000 bpd, broadly in line with 2022.

[janhar] 08/3/2023 07:45

Pretty much in line with guidance and expectations I'd say. Net debt to fall to £1bn by year end 2023. Maybe a relief bounce ....

[bones698] 08/3/2023 07:35

Debts still far too high ,they should have paid off huge chunks of that while oil prices are high . The fact the haven't paid off much is a concern and even though things are ok for now if oil prices drop this will be in trouble again . Don't think much will happen with the shareprice today on those results.

[grupo] 08/3/2023 07:29

Frank Prenesti
Sharecast News
08 Mar, 2023 07:15
Tullow Oil profits soar on higher oil, gas prices


Tullow Oil annual profits almost doubled as the company cashed in on higher oil and gas prices sparked by the war in Ukraine.




Gross profit for 2022 almost doubled to $1.08bn, on a 40% rise in revenue to £1.78bn with group production in line with guidance.

Free cash flow rose to $267m from $245m and net debt fell to $1.9bn from $2.1bn.

Reporting by Frank Prenesti for Sharecast.com

[hubshank] 07/3/2023 20:03

A lot of after close buys have been either made or reported. All trades after 4.30 are "buys" ordinarily one would expect a mix, or as has been case for a few weeks now, "sells!" But today it is all in the blue. Fingers crossed!

[alfiex] 07/3/2023 17:32

Results tomorrow but probably no good news according to share price.

[franky15] 06/3/2023 16:46

Bloody hell we finished up

[xxnjr] 06/3/2023 15:31

Impairments seem more likely.

[mcsean2164] 06/3/2023 13:45

Is our acerage worth anything?

[billy_buffin] 02/3/2023 14:19

French court dismisses case against TotalEnergies
Lisa Louis
03/01/2023March 1, 2023
A French court has rejected a demand to suspend a controversial oil and gas project largely owned by energy giant TotalEnergies in East Africa. But a lesson could be drawn from the verdict. African Intel 02 03 2023

[badger36] 02/3/2023 13:02

So wonderful it's almost back in the 20s

[xxnjr] 02/3/2023 10:20

The good news is in the details; for example

'The transition of operatorship to Tullow on the Jubilee FPSO took place in July 2022 and represented a major step in becoming a leading low-cost deep-water operator, realising improvements in safety, reliability and cost. Following the transition, FPSO uptime averaged c.99% in the second half of 2022, compared to c.95% in the first half. Operations and maintenance (O&M) costs were c.30% lower in the second half of the year compared to the first, and 2023 full year O&M costs are expected to be c.23% lower than in 2021, demonstrating the sustainability of the structural changes delivered through the transformation and helping mitigate the impact of inflation through the supply chain.'

NewTullow have turned into a pretty effective operator.

Legacy issues; debt, over-reliance on one asset endure.

[kulvinder] 01/3/2023 23:07

Maybe Christmas will come on 8th Mar, as Raul has been awful quite of late since the deal fell through, leading to a drop from around 52p to the 34p we stand today....

[mcsean2164] 01/3/2023 18:57

Can't remember the last time we had good news.

[badger36] 01/3/2023 15:18

Capricorn sure dodged this calamity No wonder they walked

[badger36] 01/3/2023 12:21

When your management fails time and time again it's time to ditch them and not indulge in excuses. Truth be told the whole thing is now a wreckage

[alfiex] 01/3/2023 11:08

Probably why share price is down againhTTps://mobile.twitter.com/Riccardino999/status/1630659363521044520

[xxnjr] 01/3/2023 00:06

"In December, an interim gas sales agreement for 19 bcf gross of Jubilee gas was executed, valued at $50c/mmbtu, utilising the price for TEN associated gas referenced in the 2017 TEN Gas Sales Agreement. The 19 bcf is expected to have been supplied by the middle of the year at an anticipated export rate in excess of 100 mmscf/d"

100[mmscf/d] x 1037 = 103,700 btu/day

X0.50c = $51,850/day, or $18.9m/yr as a base case

But after q3 under full fat GSA we should get a lot more "contingent on reaching agreement on acceptable commercial terms for future volumes."

assuming Ghana has any cash to pay for the gas!

[xxnjr] 28/2/2023 23:22

On another matter KOS said the 19bcf of Jubilee gas sold under interim GSA at low TEN matching prices was to 'compensate' for the fact that 19bcf of the 200bcf 'free' gas came from TEN rather than Jubilee. The implication being Ghana paid for the TEN gas and it wasn't free. Not sure if I buy that rationale as it doesn't add up and yeah I know it's complicated. What it means afaics is there is now a much more realistic chance of negotiating a decent price for the full fat GSA which should kick in sometime Q3.

[xxnjr] 28/2/2023 22:31

Todays Africa Oil impairment was $170.6m for 25%
Remaining on their balance sheet after above; Kenya $58m

i.e AOI were carrying it at $228.6m
which would be equivalent to TLW carrying Kenya at $457.2m for their 50%

however from TLW's last Annual Report

"As described in Note 9 to the Consolidated Financial Statements, at 31 December 2021, Tullow have recognised $255 million of E&E assets relating to its interest in Kenya exploration licenses. Whilst no impairment has been recognised in 2021, in 2020 management recognised an impairment of $430 million."

i.e AOI were a little behind the curve with todays impairment.
Maybe TLW will write down further at some point?..... But downside limited by previous write down.

[fraserdean] 28/2/2023 15:15

Look at the UN and how African countries are reacting to Ukraine. There's a lot of countries not condemning Russia.