Tullow Oil (TLWL)

6.94p
   
  • Change Today:
      0.003p
  • 52 Week High: 26.42p
  • 52 Week Low: 3.86p
  • Currency: UK Pounds
  • Shares Issued: 911.66m
  • Volume: 818,231
  • Market Cap: £63.27m

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Weak oil price, impairments see Tullow swing to $395m H1 loss

By Ikaba Koyi

Date: Wednesday 26 Jul 2017

LONDON (ShareCast) - (ShareCast News) - A massive impairment charge on Ghanaian operations saw oil producer Tullow on Wednesday report a deeper-than-forecast first half operating loss of $395m (£303m).
Pre-tax impairment charges came in at $642m (£493m) due to the weak oil price and a $572m hit on the TEN oilfields off Ghana.

The Africa-focused group reported a pre-tax loss of $519m (£398m) despite a 46% rise in revenues to $788m.

Chief executive Paul McDade said the company had performed well despite "continued challenging market conditions" that saw a 6% fall in the realised oil price to $57.3 a barrel.

Net debt was cut by $1bn since the year end to $3.8bn while Tullow revised its cash savings target up to $650m from $500m over three years.

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Tullow Oil Market Data

Currency UK Pounds
Share Price 6.94p
Change Today 0.003p
% Change -3.61 %
52 Week High 26.42p
52 Week Low 3.86p
Volume 818,231
Shares Issued 911.66m
Market Cap £63.27m

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 2
Sell 2
Strong Sell 2
Total 9
neutral
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Trades for 05-Dec-2025

Time Volume / Share Price
16:28 22,479 @ 6.94p
16:28 5,683 @ 6.94p
16:28 9,683 @ 6.94p
16:28 8,724 @ 6.93p
16:27 10,494 @ 7.00p

Tullow Oil Key Personnel

CFO Richard Miller
CEO Ian Perks

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