Tullow completes pre-emption of Deep Water Tano component of Kosmos Energy/Occidental Petroleum Ghana transaction

Tullow Oil has completed the pre-emption associated to the sale of Occidental Petroleum’s interests in 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 fairness pursuits to 38.9% within the Jubilee area and to 54.8% within the TEN fields and adds roughly 5 kbopd of unhedged daily manufacturing.
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This equates to approximately four kbopd on an annualised foundation and will increase 2022 Group manufacturing steerage 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 equity increases Tullow’s 2022 Group capital expenditure forecast by US$30Mto US $380M and is expected to generate approximately US$300mn incremental free cash move 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 important transaction has accomplished and I am grateful for the continued support of the Government of Ghana and, particularly, the Honourable Minister of Energy whose leadership has been paramount in attending to completion. This transaction underscores our confidence within the assets and meets our objectives of value accretion and deleveraging,” Rahul Dhir, CEO of Tullow Oil plc.
pressure gauge ราคา ถูก is a multinational oil and fuel exploration company 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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