Tullow Oil Plc. (TUWLF) - OTCPK - Current
  • Nov. 9, 2015, 10:31 AM
    • Tullow Oil (OTCPK:TUWLF, OTCPK:TUWOY) gains as much as 19% for the biggest advance in seven years in London trading after its partner in east African oil exploration, Africa Oil (OTCPK:AOIFF), sold stakes in some assets to Maersk Oil (OTCPK:AMKAF, OTCPK:AMKBY).
    • Maersk reportedly will buy half of Africa Oil’s holdings in three onshore exploration licenses in Kenya and another two in Ethiopia, making an upfront payment of $365M, including exploration costs, and a further payment of as much as $480M contingent on the size of the resource after final appraisal and an agreed timetable for first oil.
    • Analysts say the news reduces uncertainty about Tullow’s plans to build a pipeline that would take oil discoveries in Uganda and Kenya to export markets, as the Maersk deal shows that companies are willing to invest in east African discoveries before the pipeline route is finalized.
    | Nov. 9, 2015, 10:31 AM | 2 Comments
  • Nov. 3, 2015, 10:38 AM
    • Tullow Oil (OTCPK:TUWLF +15.2%) soars in London trading after Kosmos Energy (KOS +4.5%), its partner in the TEN offshore project in Ghana, says the two companies remained on track for first oil in Q3 of next year.
    • KOS said yesterday that the project is 75% complete and remains on budget and on track; figures from the company also showed good production from Ghana’s Jubilee offshore field, Bloomberg reports.
    • Tullow, which has made some of Africa’s largest oil discoveries in the last 10 years, operates the Jubilee field.
    | Nov. 3, 2015, 10:38 AM
  • Apr. 8, 2015, 3:48 AM
    | Apr. 8, 2015, 3:48 AM | 7 Comments
  • May 5, 2014, 7:59 AM
    • Hyperdynamics (HDY) +35.5% premarket after announcing that drilling partner Tullow Oil (TUWLF, TUWOY) had lifted its force majeure on their joint exploration project offshore Guinea.
    • Tullow had declared force majeure in March, citing U.S. regulatory investigations into HDY.
    | May 5, 2014, 7:59 AM | 1 Comment
  • Mar. 18, 2014, 3:40 PM
    • Hyperdynamics (HDY +10.1%) shares recover a sliver of last week's ~70% loss after the energy exploration company issues a rebuke to partner Tullow Oil's (TUWLF, TUWOY) decision to declare force majeure and suspend drilling off the coast of Guinea.
    • HDY says Tullow's unilateral actions were "unwarranted and untimely, and that a force majeure event has not occurred," and will provide additional communications "in an effort to recommence drilling plans."
    | Mar. 18, 2014, 3:40 PM | 1 Comment
  • Mar. 12, 2014, 9:39 AM
    • Hyperdynamics (HDY -70.5%) plunges at the open on news that Tullow Oil (TUWLF, TUWOY), one of its partners in an offshore exploration project in Guinea, is claiming that U.S. regulatory investigations into HDY constitute a force majeure.
    • Tullow, which had planned to start drilling a deepwater well by April 1, says it is unable to meet its contractual obligations and “cannot proceed with its activities on the license until these issues are resolved."
    • The Justice Department and SEC are probing HDY over the acquisition and retention of exploration rights in Guinea and have been examining how iron mining rights were awarded in the country’s Simandou area.
    | Mar. 12, 2014, 9:39 AM
  • Jan. 15, 2014, 10:12 AM
    • Kosmos Energy (KOS -6%) sinks after Tullow Oil (TUWLF, TUWOY), KOS's partner in the Jubilee field offshore Ghana, said production would average 100K bbl/day of oil, below expectations.
    • KOS's net interest in the field's 2014 production is ~24.1K bbl/day, similar to 2013 levels; as a result, KOS expects to sell eight crude oil cargoes during 2014.
    • KOS says the revised forecast primarily stems from the recently completed third gas injection well, which started up in Q4 and provided minimal relief; reservoir performance and well productivity remain strong.
    | Jan. 15, 2014, 10:12 AM
  • May 2, 2013, 11:57 AM

    EOG Resources (EOG +0.6%) could see 25% annual oil production growth in coming years, and its stock trades at cheaper multiples than rivals, RBC says as it adds EOG to its "energy best ideas" list. The firm also adds Oceaneering (OII +2.3%); it boots Helmerich & Payne (HP +1.9%) and Precision Drilling (PDS +1%), whose U.S. rig counts have not risen as quickly as expected, as well as Continental Resources (CLR -0.8%).

    | May 2, 2013, 11:57 AM
  • Jan. 11, 2013, 8:16 AM

    Tullow Oil (TUWLF.PK) slides more than 5% in London trading after saying it expects to post ~$2.35B in revenue for 2012 and that unsuccessful explorations write-offs rose to $299M from $121M in 2011. Exploration and appraisal campaigns for 2013 will target 1B boe, with more than 40 wells planned.

    | Jan. 11, 2013, 8:16 AM
  • Dec. 4, 2012, 12:57 PM

    Tullow Oil (TUWLF.PK -4.5%) tumbles on news its Zaedyus-2 appraisal well offshore French Guiana completed drilling but failed to encounter commercial hydrocarbons. The well was drilled in the Guyane Maritime license, where Tullow owns a 27.5% stake and is partnered by Shell (RDS.A, RDS.B), the operator and holding a 45% stake, Total (TOT) and others.

    | Dec. 4, 2012, 12:57 PM
  • Nov. 20, 2012, 9:59 AM

    Hyperdynamics (HDY +8.3%) agrees to sell a 40% gross interest in its oil and gas exploration concession offshore Guinea and transfer operatorship to Tullow Oil (TUWOY.PK, TUWLF.PK) for $27M in past costs and a share of future expenses up to $100M. Cash-strapped HDY had been looking to sell about half its 77% stake in the 25K sq. km license.

    | Nov. 20, 2012, 9:59 AM
  • Oct. 31, 2012, 2:37 PM

    Hyperdynamics (HDY +24.6%) shares surge based on Monday's news of an agreement with Tullow Oil for exclusive negotiations concerning a potential acquisition of a 40% gross interest in its contract area offshore Guinea. Cash-strapped HDY has been seeking to offload part of its operated 77% stake in the concession amid drilling difficulties.

    | Oct. 31, 2012, 2:37 PM | 2 Comments
  • Jul. 5, 2012, 2:49 PM

    Anadarko Petroleum (APC -2.2%) shares slide in response to an update from Tullow, its partner in Ghana, on the offshore Jubilee oil field. Tullow cut the upper end of its 2012 projected Jubilee production figure to 80K bbl/day from 90K. Tudor Pickering Holt cuts 2013 production targets for APC by 0.5% and Kosmos Energy (KOS -3.7%), which owns a stake in Jubilee, by 13%.

    | Jul. 5, 2012, 2:49 PM
  • May 7, 2012, 3:56 PM
    Africa Oil's (AOIFF.PK +36.7%) pink sheet shares skyrocket after Tullow Oil (TUWOY.PK +5.2%) says the Ngamia-1 well, Kenya’s first oil discovery, may be East Africa's largest oil find following drilling more than halfway to the planned target depth. Africa Oil is Tullow's partner in the site; Tullow is the U.K. explorer with the most licenses in Africa.
    | May 7, 2012, 3:56 PM | 1 Comment
  • Sep. 9, 2011, 11:20 AM
    Tullow Oil (TUWLF.PK +19%) and Shell (RDS.A -1.4%) announce positive results from their 1st wildcat well in the Zaedyus field off the coast of French Guiana. "The importance of this discovery cannot be overstated," says an analyst, who believes Tullow might be sitting on 3.5B barrels of hydrocarbons.
    | Sep. 9, 2011, 11:20 AM
Company Description
Currently, there's no company description for TUWLF.
Industry: Electric Utilities
Country: United Kingdom