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    TLW   GB0001500809

TULLOW OIL PLC

(TLW)
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Tullow Oil : expects FY cashflow of $600 million at $60/bbl oil price

07/14/2021 | 02:19am EDT
FILE PHOTO: Worker walks at a Tullow Oil explorational drilling site in Lokichar

LONDON (Reuters) - Africa-focused Tullow Oil expects a full-year operating cashflow of $600 million, steady from last year, if the oil price averages $60 a barrel for the rest of the year, it said on Wednesday.

If oil prices, currently at around $76 a barrel, average $70 for the remainder of the year, operating cashflow would go up by $50 million, it added.

Tullow, which refinanced it $2.3 billion debt pile this year to extend maturities, expects to invest $250 million, mainly on drilling in Ghana, and financing costs of $290 million.

Tullow, which has a market capitalisation of $1 billion, is guiding for output to stay steady at around 60,000 barrels per day.

It has hedged most of its output for the rest of the year at an average price of $67 a barrel and about half of its output at $72 next year with smaller amounts hedged into 2024.

(Reporting by Shadia Nasralla; editing by Louise Heavens and Jason Neely)


ę Reuters 2021
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Financials (USD)
Sales 2021 1 335 M - -
Net income 2021 157 M - -
Net Debt 2021 2 199 M - -
P/E ratio 2021 7,15x
Yield 2021 -
Capitalization 861 M 862 M -
EV / Sales 2021 2,29x
EV / Sales 2022 2,15x
Nbr of Employees 730
Free-Float 76,3%
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 0,60 $
Average target price 0,75 $
Spread / Average Target 24,8%
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Managers and Directors
Rahul Dhir Chief Executive Officer & Executive Director
George Leslie Wood Chief Financial Officer & Executive Director
Dorothy Carrington Thompson Chairman
Sandy Stash EVP-Safety, Operations & Engineering
Mark Stuart MacFarlane Chief Operating Officer
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