Share Prices & Company Research

Market News

24 Jan 2024 | 07:56

Jubilee startup provides cash flow boost for Tullow

(Sharecast News) - Tullow Oil on Wednesday said the start-up of the Jubilee South East operation off Ghana helped to drive production and lifted 2023 cash flow ahead of expectations. The oil and gas explorer on Wednesday said it was on track to deliver around $600m in free cash flow over the next two years to achieve its stated target of $800m from 2023 to 2025.

Five Jubilee wells were expected to come onstream in 2024, concluding the activity planned at the start of the drilling programme approximately six months ahead of schedule with excellent drilling performance.

Year-end net debt was reduced by about $250m to $1.6 bn.

Reporting by Frank Prenesti for Sharecast.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new portfolio or transferring your portfolio from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.