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Tullow Oil (TLW)

xxnjr
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Re: Tullow Oil (TLW)

#277537

Postby xxnjr » January 15th, 2020, 9:17 am

CC titbits. Hardly unexpected, but doesn't sound like they will be drilling any wells in Guyana this year. What they will be doing is re-processing the seismic, tying in results of G wells 1,2 & 3 already drilled. May drill a well in Suriname and may farm down pre-drill, if they get around to drilling it. On the debt issue. There are no Debt to Equity Covenants in any of T's borrowing facilities.

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Re: Tullow Oil (TLW)

#277562

Postby xxnjr » January 15th, 2020, 10:32 am

Replay:
Conference ID: 5346287
From the UK: 0844 571 8951
UK free phone: 0808 238 0667
Outside of the UK: +44 (0) 3333 009 785

johnhemming
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Re: Tullow Oil (TLW)

#278476

Postby johnhemming » January 19th, 2020, 10:37 am

This gives the broker recommendations and target prices from the LSE for tullow
https://www.lse.co.uk/ShareBrokerTips.a ... eprice=TLW

I wonder if anyone knows of a better source of this information. I have this as my preferred source of this information as it gives the dates of the issuing of the forecasts which is particularly relevant to a stock such as Tullow.

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Re: Tullow Oil (TLW)

#279198

Postby BillyBuffin » January 22nd, 2020, 2:14 pm

"Stena Forth" departed Callao now a couple of days north at Talara Anchorage closer to the drill site and taking on materials from attending PSV's (TLW/ASX:KAR joint venture)

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Re: Tullow Oil (TLW)

#280481

Postby xxnjr » January 28th, 2020, 7:43 am

Marina-1 spud. 30 day drill. TLW 'basin opening' wells usually end in tears.
hTTps://www.karoonenergy.com.au/wp-cont ... 012020.pdf

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Re: Tullow Oil (TLW)

#284855

Postby xxnjr » February 17th, 2020, 9:13 am

hTTps://www.tullowoil.com/media/press-r ... ell-result

Tullow would have quite a good business if the company gave up on exploration and just concentrated on producing and developing their 2P resources in West Africa. Hopefully the penny will drop eventually.

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Re: Tullow Oil (TLW)

#285546

Postby subsurface » February 20th, 2020, 1:17 am

Morning xx ,
Just got back on seat,
Tullow Oil Plc said it received approval from Ghanaian authorities to flare gas when necessary to support its offshore fields.
abit sensitive these days,but a short term solution to help production.

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Re: Tullow Oil (TLW)

#286085

Postby subsurface » February 22nd, 2020, 1:51 pm

Africa press on Kenya - China National Offshore Oil Corporation (CNOOC) is one of the favourite bidders for the 32.5 per cent stake up for sale, which would make it the majority partner in the project and a key decision maker in unlocking the current limbo.

hTTps://www.nation.co.ke/nationprime/ch ... index.html

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Re: Tullow Oil (TLW)

#286248

Postby xxnjr » February 23rd, 2020, 4:11 pm

Hi SS,

Bit quiet round here. Only drop in occasionally, or when substantive news emerges, which is...... not often!

Kosmos are reporting 2019 FY tomorrow. Andy Inglis is usually good for some Ghana tit-bits. May well be worth a listen..... http://investors.kosmosenergy.com/investor-events

[good news on flaring, assuming it happens]
All the best
xx

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Re: Tullow Oil (TLW)

#286311

Postby subsurface » February 23rd, 2020, 10:10 pm

Thanks xx
I will Tune in.
In the Tullow December statement Tullow said.

A review of the production performance issues in 2019 and its implications for the longer-term outlook of the fields has been undertaken and has shown that the Group needs to reset its forward-looking guidance. 2020 Group production is forecast to average between 70,000 and 80,000 bopd. Group production for the following three years is expected to average around 70,000 bopd.

So hopefully the forcast will improve in the next report.

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Re: Tullow Oil (TLW)

#286448

Postby BillyBuffin » February 24th, 2020, 4:47 pm

'The Jubilee gas enhancement work program that was rescheduled from the fourth quarter of 2019 into the first quarter of 2020, was completed in early February with production rates of around 90,000 bopd now being achieved'

Kosmos reporting today...

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Re: Tullow Oil (TLW)

#286462

Postby johnhemming » February 24th, 2020, 6:01 pm

What would be the net Tullow delta from this?

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Re: Tullow Oil (TLW)

#286518

Postby xxnjr » February 25th, 2020, 1:55 am

Too early to say. T's mid-case forecast for 2020 J prod'n is 29K net. This equates to 81.7K gross.
Against that, 90K sounds good. But only if you get 100% uptime!
If you assume 90% uptime then the "delta" isn't that significant.
Let's just say they appear to have steadied the ship for now.
With maybe more to come if they can improve the water injection performance into the field with the objective of lowering the GOR ratio.

The gas flaring permit doesn't appear to be a general concession. It seems it kicks in if work on GNPC/GNGC pipelines, or facilities, prevents offtake from the FPSO. Not sure how that works as GNGC not taking the gas anyway! Although GNGC are apparently talking about taking some J gas.

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Re: Tullow Oil (TLW)

#286766

Postby subsurface » February 26th, 2020, 7:43 am

Tullows partner Eco in Guyana report update today no confirmed drilling yet, still under discussion.
Eco is pushing to drill a minimum of at least one upper Cretaceous target as soon as practically possible for its partners. Consideration is being given to prioritise a stacked multi-target well.
The Block operator has proposed a further fine tuning analysis of the upper cretaceous reservoirs, and the Operator has announced a plan to incorporate the Carapa well data into Orinduik's existing geological models and technical analysis over the coming period. Further, the partners plan to integrate the discoveries at Jethro and Joe with the Carapa discovery with the rest of the regional data now available and to incorporate this data into a reprocessing of the 3D seismic already shot on Orinduik. The intent is to provide further definition to the Cretaceous interpretation and target selection for drilling.
Drilling may be pushed out to H1 2021
hTTps://www.energy-pedia.com/news/general/eco-(atlantic)-oil-gas-announces-unaudited-results-and-corporate-update-178895

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Re: Tullow Oil (TLW)

#287181

Postby subsurface » February 27th, 2020, 4:18 pm

Anadarko sells Ghana assets to Total for $2.5bn

Anadarko has been operating in the country since 2006, and until the sale of its operations last year, it owned 24.077 per cent of the Jubilee Field, which is Ghana's first oil field, and 17 per cent of the Tweneboah-Enyera-Ntomme (TEN) project, an integrated oil and gas project.

hTTps://www.graphic.com.gh/business/bus ... 2-5bn.html

Tullow have 35.48% of Jubilee and 47.18% in Ten so we can gain some idea of its value.

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Re: Tullow Oil (TLW)

#288135

Postby xxnjr » March 3rd, 2020, 12:47 am

Occidental's TAX snafu in Ghana is probably a bit of a -ve for TLW. Can't see OXY being interested in spending cash on the FPSO upgrades, but having said that, OXY (APC) don't hold a blocking vote, at least from a working interest perspective.

On another front, the +ve vibe on the results webcast for Apache's 2nd well 12 miles to the SE in Suriname appears to suggest they may be heading for a second discovery. Still drilling down to the second targeted horizon, but so far, it's 'encouraging'. Q1/2/3 on the call elicited good responses.

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Re: Tullow Oil (TLW)

#288145

Postby subsurface » March 3rd, 2020, 6:24 am

Lots of Snafus with Tullow xx Uganda,Kenya, and Guyana to name a few.
Results from Guyana Elections due from Friday onwards.
On a positive note

Exxon awaits final approval for Payara, its third oil well development, ExxonMobil is pressing ahead with its fourth oil well project offshore at Hammerhead-1 as it aims to ramp up production.In a notice to the public, in the state-owned Guyana Chronicle, the Environmental Protection Agency (EPA) yesterday stated that ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has submitted an application for Environmental Authorisation to undertake the Hammerhead project. It said that production facilities for petroleum production are estimated to last at least 20 years in the Stabroek Block area.

Suriname sounds good too drilling ahead and bringing in equipment for testing ,

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Re: Tullow Oil (TLW)

#288976

Postby subsurface » March 7th, 2020, 12:04 am

News from Africa press
Two numbers given for production,so we will find out more next week,but going the right way.

This has propelled the FPSO to currently produce at 96,200 barrels per day, while re-injecting and flaring more than 30 percent of gas produced, due to the less raw gas requirements by the Atuabo Gas Processing plant.”

hTTps://www.modernghana.com/news/987898 ... resol.html

Guyana
Presentation from ECO
hTTps://www.ecooilandgas.com/wp-content ... h-2020.pdf

From 3rd February
Eco Atlantic's Gil Holzman discusses boost to Orinduik resources offshore Guyana


hTTps://www.youtube.com/watch?v=Q7EiaiXPV2s

Hope to find out drilling plans,suspect next year! perhaps better to spend our little FCF on consolidation,

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Re: Tullow Oil (TLW)

#290035

Postby xxnjr » March 12th, 2020, 9:03 am

Morning SS & any other lurkers, one wonders what on earth Dorothy and crew have been doing for the last 3 months. The scope and scale of business re-think is far too timid. Not only do they need a new CEO. The whole BOD needs replacing. Starting with lame duck Dorothy, who was only bought in, one assumes, as a soft touch/defensive move by McDade. Expect a a roasting in todays Q&A!

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Re: Tullow Oil (TLW)

#290095

Postby xxnjr » March 12th, 2020, 11:40 am

Not much of a roasting, despite the lamentable performance by Dorothy on the call.
Most of the analysts present couldn't even be bothered to ask Q's. And you can see why.
The CFO is good though. Shame about the rest.
Only commenting out of passing interest.


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