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Can Tullow save itself?
Report summary
Tullow Oil’s share price suffered its biggest single-day plunge following management changes and material downgrades of its 2020 production guidance. Around two thirds of its market cap was wiped off at the close of Monday trading. Tullow's number one priority will be to optimise production and offset declines in Ghana. Progressing the Uganda deal will ease the near-term balance sheet pressure. Longer term, we expect the new management to reset its strategic priorities.
Table of contents
- What happened?
- Subsurface and gas handling issues weighing on Ghana production
-
Short term priorities
- Mitigating production decline
- Uganda sale will ease near-term balance sheet pressure
- Can Tullow save itself?
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