Tullow Oil plc said it had plugged and abandoned the Beebei-Potaro exploration well after encountering water-bearing oil targets in the Kanuku licence, offshore Guyana. NEXT STEPS “The well encountered good quality reservoir in the primary and secondary targets but both targets were water-bearing. “The Noble Regina Allen rig drilled the Beebei-Potaro well to a total depth of 4,325 metres […]
Tag: Tullow Oil plc
Tullow-Capricorn to merge
Tullow Oil plc and Capricorn Energy plc have announced plans for a recommended all-share merger to create one of the largest energy companies in Africa. TERMS In a joint statement today, the companies added that Capricorn shareholders would receive 3.8068 new Tullow shares for each Capricorn share held. This would see Capricorn shareholders owning 47% […]
EnQuest CFO Jonathan Swinney moves to Tullow
EnQuest plc founding chief financial officer (CFO) and executive director Jonathan Swinney will leave the company to take up the same posts at Tullow Oil plc. Richard Miller, currently Tullow group financial controller, will act as interim CFO until Mr Sweeney joins the company later this year. Mr Swinney has extensive oil and gas and […]
Tullow Oil CFO Les Wood steps down
Tullow Oil & Gas plc announced that its chief financial officer (CFO) Les Wood has left, as previously arranged, after a total eight years with the company. Mr Wood, who has been CFO for the past five years, joined Tullow during 2014 as the group’s vice president for commercial and finance. He will be replaced […]
Tullow completes deal on Jubilee and TEN fields in Ghana
Tullow Oil plc has completed the pre-emption transaction to take its interests to 38.9% in the Jubilee field and to 54.8% in the TEN fields in Ghana. PRODUCTION The pre-emption relates to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy. The $118 million payment sees an […]
Tullow Oil records transformational 2021
Tullow Oil plc said it would follow a transformational 2021 by delivering its long-term business plan for the company’s African oil and gas assets. FINANCES In its full year results for the year ended 31 December 2021, the company recorded revenue of $1,273 million (2020: $1,3960) with gross profit of $634m (2020: $403). Loss after […]