Ron Bousso
3 minute read
Workers walk past storage tanks at Tullow Oil s Ngamia 8 drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. REUTERS/Baz Ratner/File Photo
Tullow Oil s $1.8 billion bond, which was launched to help it manage a $2.4 billion debt pile, drew more interest from investors than expected after the Africa-focused producer s financial overhaul, the chief executive said on Friday.
Rahul Dhir also told Reuters the firm did not plan to sell more oil and gas fields after disposing of assets worth $750 million following last year s oil price plunge, including its $575 million sale of a Uganda project stake to Total (TOTF.PA).
Drilling of first well at Jubilee offshore field in Ghana begins constructionreviewonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from constructionreviewonline.com Daily Mail and Mail on Sunday newspapers.
Irish-founded Tullow Oil commenced its multi-well drilling campaign in offshore Ghana yesterday with the start of drilling of the first well at the Jubilee Field.
The company has previously announced that drillship Maersk Venturer has been contracted for four years, and is expected to drill four wells in total in 2021.
The drilling campaign is the first part of Tullow s 10-year business plan which it presented at its Capital Markets Day in November last year.
The four wells it plans to drill this year consist of two Jubilee production wells, one Jubilee water injector well and one TEN gas injector well.
Top UK Stocks to Watch: BP to restart buybacks after hitting debt target
Joshua Warner April 6, 2021 8:59 AM
BP lowers debt faster than planned, Homeserve benefits as people improve their homes during lockdown, Oxford Biomedica strikes a supply deal with Boehringer Ingelheim, Tullow Oil launches an important drill campaign in Ghana, and Ryanair and Wizz report traffic statistics. Share:
Top News: BP prepares to launch buyback after reaching debt target
BP said it has achieved its goal of reducing debt earlier than planned after delivering a better-than-expected performance and disposing of several projects, paving the way for it to return cash to shareholders this year.