The $1.7 billion hit to Tullow Oil Plc’s market value on Monday — a 65% drop — provides a stark reminder of why bosses shouldn’t stay too long at the top. The hydrocarbon producer has been stubbornly overoptimistic about its prospects. Reality has now dawned, and it turns out the London-based group is in an extremely tight position.
Guyana’s anti-corruption agency is investigating how exploration rights were awarded in the world’s biggest new deepwater oil region, including those now controlled by Exxon Mobil Corp. and Tullow Oil Plc.
Petrofac has won a decommissioning contract worth around £12.2m with Tullow Oil.
Tullow Oil has said a no-deal Brexit would cause “significant uncertainty” for its North Sea decommissioning programme and its workforce.
A Cheshire-based recruitment consultant has clinched a contract to provide workforce services to Tullow Oil for five years.
Oil firm Tullow oil has announced that it may have to stop production from its north Kenyan oilfields is agreement cannot be reached with those in the local community.
Middle East oilfield service firm AlMansoori has supported a ground-breaking project in Kenya after securing a $15 million contract with Tullow Oil.
UK firm Tullow Oil said today that it expects to halt output from its remaining producing UK fields in the third quarter of this year.
Tullow Oil said today that it had appointed a new chairperson.
United Oil and Gas has completed the purchase of 20% of the Walton-Morant Licence, offshore Jamaica from Tullow Oil.
Eco Atlantic Oil & Gas said today that the Orinduik block offshore Guyana could contain more than 1billion barrels of oil.
Aberdeen-headquartered firm Petrofac has today announced a significant multi-million dollar contract for the next phase of Tullow Oil’s Thames Decommissioning project.
French energy giant Total has confirmed the acquisition of two offshore exploration licences in Guyana’s Canje Block and Kanuku Block.
Africa and South America-focused Tullow Oil said today that it had beefed up its portfolio with six new licences off Peru.
Agreement has been reached between joint venture partners to drill an exploration well on the Cormorant prospect in Namibia.
Lower crude price forecasts and a large impairment charge on its TEN fields offshore Ghana drove UK-based Tullow Oil to pre-tax losses of £398million in the first half of 2017.
Tullow Oil is planning for a shutdown for its flagship Jubilee development.
Tullow Oil's chief financial officer stepped down from the board today due to ill-health.
Tullow Oil has received acceptances for 95.3% of the new shares offered in its £600million rights issue.
Hague and London Oil (HALO) this morning confirmed its bid to takeover Tullow Oil's North Sea assets in the Dutch North Sea.
Tullow Oil's shares slumped by about 15% in London this morning following the firm's announcement about a share placing.
Tullow Oil said today that it would look to raise £607million through the sale of more than 450million new shares.
Chinese firm Cnooc will take a slice of the Ugandan assets Tullow Oil is selling to Total.
Africa-focused Tullow Oil was hit by a 21% slump in revenues in 2016, the year it delivered first oil from its TEN fields offshore Ghana.
Tullow Oil said 2016 was another tough year for the firm in its latest trading statement.