Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Strong Performance for Tullow in 2H 2012

change text size

Africa-focused Tullow Oil announced Wednesday that it has maintained a strong performance, so far, during the second half of the year.

In an interim management statement, Tullow said it remains on target to deliver average net production of up to 84,000 barrels of oil equivalent per day for 2012 as a whole. The firm said that production capacity has been enhanced at its Jubilee field in Ghana, West Africa, which it expects to generate more than 90,000 barrels of oil per day by the end of this year.

In terms of its financial performance, Tullow said that figures were in line with expectations. Capital expenditure for 2012 remains in the region of $2 billion. At the end of October, net debt was approximately $0.9 billion and unutilized debt capacity is around $2.2 billion.

In an outlook statement, Tullow added:

"Tullow's exploration-led growth strategy continues to deliver outstanding results for the group. Exploration success in Kenya is opening up another new basin in East Africa with major upside potential. Growing production and cashflow from the Jubilee field continues to strengthen Tullow's financial base as we look forward to further significant exploration and development programs in 2013." 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Shell Agrees Sale of Norwegian Downstr... (Dec 18)
 -  Independent Gets Cronx Extension (Dec 18)
 -  Det norske Appoints New Head of Projec... (Dec 18)
 -  Rose is Granted Utah Drilling Permit (Dec 18)
 -  Solo Oil Purchase of Tanzanian License... (Dec 17)
Most Popular Articles
From the Career Center
Jobs that may interest you
Subsea Engineer - R & D Manager
Expertise: Research & Development, Subsea Engineering
Location: Houston, TX
 
Engineering Designer
Expertise: CAD / CAM, Design Engineer, Field Development
Location: Houston, TX 77042, TX
 
Senior Reservoir Engineer
Expertise: Petroleum Engineering, Reservoir Engineering
Location: Anchorage, AK
 
search for more jobs