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Tullow Oil ( (GB:TLW) ) just unveiled an announcement.
Tullow Oil has made substantial progress towards improving its financial health by significantly reducing net debt from approximately $2.81 billion to $1.45 billion and extending its revolving credit facility. The company has resolved a tax arbitration in Ghana, which removes a $320 million liability, and anticipates a productive year ahead with new drilling projects and production optimization. The 2024 operational achievements included high production rates from key fields, accelerated decommissioning activities, and robust financial performance with revenue of around $1.5 billion. Tullow plans to focus on cost efficiency and production optimization in 2025, with strategic drilling activities and potential asset disposals to further reduce debt.
More about Tullow Oil
Tullow Oil is an independent energy company focused on responsible oil and gas development in Africa, with key operations in Ghana, Gabon, and Côte d’Ivoire. The company has a significant resource base in Kenya and aims to achieve Net Zero on its Scope 1 and 2 emissions by 2030. It is listed on the London and Ghanaian stock exchanges.
YTD Price Performance: -9.56%
Average Trading Volume: 7,140,642
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £302.6M
For detailed information about TLW stock, go to TipRanks’ Stock Analysis page.
