Tullow Oil has accomplished the pre-emption associated to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy.
The money consideration paid on completion was US $118M reflecting closing changes and was funded from money on the balance sheet. เกวัดแรงดัน takes Tullow’s equity interests to 38.9% within the Jubilee area and to fifty four.8% in the TEN fields and provides roughly five kbopd of unhedged daily production.
https://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-5161228292597111&output=html&h=280&adk=3456163606&adf=4184112256&pi=t.aa~a.829776362~i.6~rp.4&w=696&fwrn=4&fwrnh=100&lmt=1654260669&num_ads=1&rafmt=1&armr=3&sem=mc&pwprc=6039428623&psa=1&ad_type=text_image&format=696×280&url=https%3A%2F%2Fpumps-africa.com%2Ftullow-completes-pre-emption-of-deep-water-tano-component-of-kosmos-energy-occidental-petroleum-ghana-transaction%2F&host=ca-host-pub-2644536267352236&fwr=0&pra=3&rh=174&rw=696&rpe=1&resp_fmts=3&wgl=1&fa=27&adsid=ChAI8OLmlAYQzNnYs8KV-44tEj0Ai9i9BCE6NDYc_C1PGnLz8nfc-CojQ8czP38s2usssC8BlygUsp9QoJx-leFEzLaB7Ovbcybngf5DwPF0&uach=WyJXaW5kb3dzIiwiMTAuMC4wIiwieDg2IiwiIiwiMTAxLjAuNDk1MS42NyIsW10sbnVsbCxudWxsLCI2NCIsW1siIE5vdCBBO0JyYW5kIiwiOTkuMC4wLjAiXSxbIkNocm9taXVtIiwiMTAxLjAuNDk1MS42NyJdLFsiT3BlcmEiLCIxMDEuMC40OTUxLjY3Il1dLGZhbHNlXQ..&dt=1654260673612&bpp=4&bdt=3282&idt=5&shv=r20220601&mjsv=m202205260101&ptt=9&saldr=aa&abxe=1&cookie=ID%3Da6ec2c0cfb69fb20-2238cebfd3d300ea%3AT%3D1653560075%3ART%3D1653560075%3AS%3DALNI_Mb9DmPNoSNl1UHGnMmkM_FOy8D6pg&gpic=UID%3D000007980f5e3559%3AT%3D1653560075%3ART%3D1654251836%3AS%3DALNI_MYaki0sIT3uFKKqgBRQW27xY5WtzA&prev_fmts=0x0%2C728x90%2C324x250%2C728x90%2C468x60%2C324x250&nras=2&correlator=3851254376998&frm=20&pv=1&ga_vid=143729114.1653560073&ga_sid=1654260640&ga_hid=33782869&ga_fc=1&ga_cid=910480891.1654251834&u_tz=120&u_his=1&u_h=720&u_w=1280&u_ah=680&u_aw=1280&u_cd=24&u_sd=2&dmc=8&adx=79&ady=1370&biw=1225&bih=610&scr_x=0&scr_y=0&eid=44759875%2C44759926%2C44759837%2C44761793%2C31067768%2C44765312&oid=2&pvsid=3056306284251182&pem=9&tmod=578458333&uas=0&nvt=1&ref=https%3A%2F%2Fpumps-africa.com%2Fcategory%2Findustries%2Foil-and-gas%2F&eae=0&fc=1408&brdim=0%2C0%2C0%2C0%2C1280%2C0%2C0%2C0%2C1240%2C610&vis=1&rsz=%7C%7Cs%7C&abl=NS&fu=128&bc=31&ifi=7&uci=a!7&btvi=3&fsb=1&xpc=eurIGKeAZ6&p=https%3A//pumps-africa.com&dtd=M
https://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-5161228292597111&output=html&h=90&slotname=7894598746&adk=3204069288&adf=4184112256&pi=t.ma~as.7894598746&w=728&lmt=1654260669&psa=1&format=728×90&url=https%3A%2F%2Fpumps-africa.com%2Ftullow-completes-pre-emption-of-deep-water-tano-component-of-kosmos-energy-occidental-petroleum-ghana-transaction%2F&host=ca-host-pub-2644536267352236&wgl=1&adsid=ChAI8OLmlAYQzNnYs8KV-44tEj0Ai9i9BCE6NDYc_C1PGnLz8nfc-CojQ8czP38s2usssC8BlygUsp9QoJx-leFEzLaB7Ovbcybngf5DwPF0&uach=WyJXaW5kb3dzIiwiMTAuMC4wIiwieDg2IiwiIiwiMTAxLjAuNDk1MS42NyIsW10sbnVsbCxudWxsLCI2NCIsW1siIE5vdCBBO0JyYW5kIiwiOTkuMC4wLjAiXSxbIkNocm9taXVtIiwiMTAxLjAuNDk1MS42NyJdLFsiT3BlcmEiLCIxMDEuMC40OTUxLjY3Il1dLGZhbHNlXQ..&dt=1654260671417&bpp=19&bdt=1086&idt=1602&shv=r20220601&mjsv=m202205260101&ptt=9&saldr=aa&abxe=1&cookie=ID%3Da6ec2c0cfb69fb20-2238cebfd3d300ea%3AT%3D1653560075%3ART%3D1653560075%3AS%3DALNI_Mb9DmPNoSNl1UHGnMmkM_FOy8D6pg&gpic=UID%3D000007980f5e3559%3AT%3D1653560075%3ART%3D1654251836%3AS%3DALNI_MYaki0sIT3uFKKqgBRQW27xY5WtzA&prev_fmts=0x0%2C728x90%2C324x250&nras=1&correlator=3851254376998&frm=20&pv=1&ga_vid=143729114.1653560073&ga_sid=1654260640&ga_hid=33782869&ga_fc=1&ga_cid=910480891.1654251834&u_tz=120&u_his=1&u_h=720&u_w=1280&u_ah=680&u_aw=1280&u_cd=24&u_sd=2&dmc=8&adx=63&ady=1650&biw=1225&bih=610&scr_x=0&scr_y=0&eid=44759875%2C44759926%2C44759837%2C44761793%2C31067768%2C44765312&oid=2&pvsid=3056306284251182&pem=9&tmod=578458333&uas=0&nvt=1&ref=https%3A%2F%2Fpumps-africa.com%2Fcategory%2Findustries%2Foil-and-gas%2F&eae=0&fc=1920&brdim=0%2C0%2C0%2C0%2C1280%2C0%2C0%2C0%2C1240%2C610&vis=1&rsz=%7Cm%7CpoeEbr%7Cp&abl=XS&pfx=0&fu=0&bc=31&ifi=3&uci=a!3&btvi=1&fsb=1&xpc=MsBbfbpFN1&p=https%3A//pumps-africa.com&dtd=M
This equates to roughly 4 kbopd on an annualised basis and will increase 2022 Group manufacturing guidance to 59-65 kbopd (30-32 kbopd at Jubilee, 13-14 kbopd at TEN and non-op portfolio unchanged at 16-19 kbopd).
READ:Eni, bp create impartial three way partnership in Angola
Equity
This extra fairness increases Tullow’s 2022 Group capital expenditure forecast by US$30Mto US $380M and is anticipated to generate approximately US$300mn incremental free cash circulate at US$75/bbl between 2022 and 2026. As of 31 December 2021, the transaction will increase Tullow’s net 2P reserves by approximately 21 mmboe (9%) and has an estimated post-tax NPV 10 valuation of US $355mn at $75/bbl.
“I am delighted that this essential transaction has accomplished and I am grateful for the continued support of the Government of Ghana and, in particular, the Honourable Minister of Energy whose management has been paramount in attending to completion. This transaction underscores our confidence in the belongings and meets our aims of value accretion and deleveraging,” Rahul Dhir, CEO of Tullow Oil plc.
Tullow Oil plc is a multinational oil and gasoline exploration company based in Tullow, Ireland with its headquarters in London, United Kingdom. The firm is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Share