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Tullow Oil (London: TLW) Price targets:

10.5p
9.8p
9.1p
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Tullow Oil’s rating drops to ’CCC+’ due to looming debt maturity TLW Brent crude hereremove ads Latest comments Install Our AppScan QR code to install app Google Play App Store Blog Mobile Portfolio Widgets About Us Advertise Help & Support Authors Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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Tullow Oil shares rise on $300mn sale of its Gabon assets Investing.com -- Shares of Tullow Oil (LSE:LON:TLW) climbed 3.6% today despite the company reporting a net profit of $55 million for the fiscal year 2024, falling short of Visible Alpha consensus estimates of $179 million. The miss was largely attributed to $213 million in exploration costs written off. Production for the year averaged 61.2 thousand barrels of oil equivalent per day (kboe/d), including 6 kboe/d of gas, which was a slight decline from the first half average of 63.7 kboe/d but in line with prior guidance. Year-end net debt stood at $1.45 billion, which was consistent with the forecast of approximately $1.4 billion after free cash flow (FCF) of $156 million. For fiscal year 2025, Tullow Oil maintained its guidance, with a forecasted production range of 50-55 kboe/d and an anticipated FCF of $100-200 million at a Brent crude price of $70-$80 per barrel. This includes expected overdue gas receipts of $50 million from Ghana. Capital expenditures are projected to be around $250 million, with decommissioning costs of approximately $30 million, general and administrative expenses of $40 million, and cash taxes estimated at $150-200 million within the same price range. The company also announced an agreement for the $300 million sale of its Gabon assets to Gabon Oil Company, which is expected to reduce its net debt to $1.15 billion pro forma. The assets account for 10 kboe/d of the company’s FY25 production guidance and 36 million barrels of oil equivalent (mmboe) of proven and probable reserves. Jefferies commented on the asset sale, stating, "We believe focus will be on the sale of Tullow’s Gabon assets for $300m net tax, which we estimate reduces FY26 FCF to $12m vs $139m presale, both at $70/b. Whilst the proceeds help reduce pro forma net debt to $1.15bn, stock performance will be further concentrated on Jubilee performance." Looking ahead, Tullow Oil’s key operational focus remains on the Jubilee field, with a drilling program in Ghana set to commence in May 2025. Two new wells are expected to be operational in the third quarter of 2025. Tullow continues its strategic review of the Kenya Field Development Plan, seeking government support and a long-term strategic partner to reach a final investment decision. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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So #Tullowoil & #KOS saw gross production at their Jubilee field fall below 80,000 barrels a day in December, continuing a steady declining trend since mid 2024 according to recently published stats. Meanwhile the TEN field has slipped further to 17500 barrels a day. The 2025 guide may be tough.

Tullow Oil: Fire Sale Goodbye Rahul...Paging Houston! ICC and refi risk...

A few thoughts on Tullow Oil #tullowoil and its ICC case that I wrote in most part before this past afternoon's announcement apparently soliciting a bid from $KOS #kosmos brevarthanresearch.substack.com/p/tullow-oil...

So the #TullowOil CEO resigned. Only days after a trading update. And before an upcoming refi and year end trading statements. Draw your own conclusions. Best guess is that Jubilee production down another 2-3kbd from September's 84kbd in October. Doesn't augur well for year end and '25 guide