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Tullow Oil corporate report

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11 May 2020

Tullow Oil corporate report

Report summary

Tullow is fighting for its survival. The company was already facing challenges before the oil price plunge: a run of disappointing results during 2019 culminated in management changes and material downgrades to the 2020 production outlook. The company has lost over 80% of its market value in the last six months. With gearing at 76%, the importance of deleveraging cannot be over emphasised. Addressing the balance sheet challenges is only half the battle for Tullow's incoming CEO. A strategy reset is also on the cards, redefining Tullow’s focus. Like other E&Ps, Tullow also needs to articulate its ESG strategy, if it wants to remain investable.

Table of contents

    • Redefining the strategic priorities
    • Recent market performance
  • Overview
  • Company targets
  • Financial outlook
  • Hedging
    • Overview
    • Portfolio renewal/Business Development
    • Business Development
    • Exploration

Tables and charts

This report includes 16 images and tables including:

  • Tullow Oil: Debt maturities vs. cashflow (2020 -2025)
  • Net debt outlook
  • WM Brent base price cash flow breakeven
  • Benchmark: share price performance
  • Tullow: market premium/discount
  • Tullow production outlook: 2020 -2030
  • Benchmarking: Indexed production
  • Woodmac average ILTOP: 2016 2020
  • Tullow net exploration acreage by country
  • Base price assumptions (nominal terms)
  • Base price assumptions (nominal terms)
  • Base, high and low Brent (nominal terms)
  • High price assumptions
  • Low price assumptions
  • Value assumptions
  • Foreign exchange rate assumptions

What's included

This report contains:

  • Document

    Tullow Oil corporate report

    PDF 891.17 KB

  • Document

    Tullow Oil corporate report

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