ที่วัดแรงดัน has accomplished the pre-emption related to the sale of Occidental Petroleum’s interests within the Jubilee and TEN fields in Ghana to Kosmos Energy.
The money consideration paid on completion was US $118M reflecting closing adjustments and was funded from money on the balance sheet. This transaction takes Tullow’s equity pursuits to 38.9% within the Jubilee field and to 54.8% within the TEN fields and provides approximately five kbopd of unhedged every day manufacturing.
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This equates to approximately four kbopd on an annualised basis and will increase 2022 Group production steering to 59-65 kbopd (30-32 kbopd at Jubilee, 13-14 kbopd at TEN and non-op portfolio unchanged at 16-19 kbopd).
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Equity
This additional 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 internet 2P reserves by roughly 21 mmboe (9%) and has an estimated post-tax NPV 10 valuation of US $355mn at $75/bbl.
“I am delighted that this necessary transaction has completed and I am grateful for the continued assist of the Government of Ghana and, particularly, the Honourable Minister of Energy whose leadership has been paramount in getting to completion. This transaction underscores our confidence in the property and meets our objectives of value accretion and deleveraging,” Rahul Dhir, CEO of Tullow Oil plc.
Tullow Oil plc is a multinational oil and fuel exploration firm founded 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.
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