Tullow Oil’s Namibia exploration well fails to find commercial hydrocarbons
"The Cormorant-1 frontier exploration well was a bold attempt to open a new oil play in this area of Tullow's offshore Namibia acreage,” said Angus McCoss
Company
Tullow Oil PLC
LON:TLW
Tullow Oil PLC is a leading independent oil and gas, exploration and production group and is quoted on the London and Irish Stock Exchanges. The group has interests in over 90 production and exploration licences in 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.
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FTSE 100 closes in the red as trade tariffs kick in
The UK blue-chip index lost almost 32 points at 7,458
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Small cap movers: Hornby sparkles as it inks Harry Potter franchise deal with Warner Bros
A look back at some of the more interesting stories from the junior market over the past week
Proactive Weekly Oil & Gas highlights: Hurricane Energy, Eco Atlantic, UK Oil & Gas, Sound Energy ...
It was another busy week of deals and operations updates in the junior oil and gas sector.
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Proactive news snapshot: Bushveld Minerals, Nektan. Europa Metals …
A glance at some of the day's highlights from the Proactive Investors newswire
Anglo Asian Mining shares fly higher as it takes steps to identify new targets
A look at some of the top risers and fallers in London on Thursday
Eco Atlantic Oil & Gas “absolutely delighted” as Total triggers Guyana farm-out four months ahead of schedule
The payment from Total is expected to fund Eco's participation offshore Guyana for a number of years, including well costs once exploration drilling gets underway
FTSE 100 closes higher with pound volatile, as tobacco stocks fire up on FDA move
The UK blue chip index rose 34 points to 7,308 around 3.40pm
Deep dive: Eco Atlantic Oil & Gas’s attractive position offshore Guyana
In the longer term exploration drilling will tell, nonetheless, a near 3bn barrel 'pre-drill' resource is certainly attractive for speculative investors
Optiva ups United Oil & Gas’s core valuation for second time in a fortnight after reviewing the explorer's operations
The City broker said its risked valuation for United Oil & Gas is now 18.7p per share on a fully diluted basis, having already upped it to 17.1p per share, from 15.7p last month
Eco Atlantic Oil & Gas looks forward to September catalysts offshore Guyana
Seismic interpretation, a farm-out milestone and a new competent persons report are in September's schedule
Optiva Securities ups core valuation for United Oil & Gas to 17.1p a share after new North Sea assets awards
The City broker noted that the UK Oil and Gas Authority awarded UOG a 95% interest in the UKCS Licence P2366 in the Central North Sea which includes blocks 15/18d and 15/19b
Proactive weekly Oil & Gas Highlights: SDX Energy, Eland Oil & Gas, Touchstone Exploration ...
It was a busy summer's week for the oil and gas sector, after a couple of weeks of lighter newsflow.
United Oil & Gas impressed with initial Jamaica seismic data
Jamaica’s first 3D seismic programme covered 2,250 square kilometres of the massive 32,065 square kilometer Walton Morant licence.
Tullow Oil is “firmly back on track” - City analyst
Things were touch and go a couple of years ago, but Tullow is now firmly back on the right track”
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Ricardo slides as it estimates full-year profits will be at lower end of forecasts
A look at some of the biggest risers and fallers in London on Wednesday
Tullow Oil puts growth back on the agenda as revenue and cash flow surge
As it announced improved production, revenue, cash flow and profits the oiler also updated on its new field projects and the pending resumption of high impact, frontier exploration drilling
FTSE 100 closes down as market awaits Trump/Juncker meeting
The UK blue-chip index closed around 50 points lower at 7,658, while FTSE 250 was also down - over 99 points at 20,753
Investments and investor services
ITV, GlaxoSmithKline and Indivior to be among the highlights for Wednesday
Among Wednesday's names are ITV, GlaxoSmithKline, Indivior, and Tullow Oil
Kosmos Energy wins rig fees arbitration against Tullow Oil
The dispute centred around a rig contract which was broken in late 2016
EnQuest Energy and Tullow Oil in favour as Barclays upgrades oil sector
Barclays now increases its sector view to ‘positive’ from ‘neutral’, meanwhile, analyst James Hosie highlighted the upside for EnQuest and Tullow Oil
Kosmos Energy vs Tullow Oil - Jefferies picks its favourite Jubilee oiler
Jefferies prefers Kosmos, with a ‘buy’ rating, whilst it sees Tullow as ‘hold’
Tullow Oil ordered to pay Seadrill by court
“Tullow is disappointed with the decision and maintains the view that it was right to terminate the West Leo contract for force majeure,” the company said in a stock market statement
Tullow Oil nudges up production guidance
Tullow's 2018 full-year working interest oil production forecast range has been upgraded to 86,000-92,000 barrels of oil per day (bopd). Overall Group production guidance for the full year is 89,000-95,000 boepd
FTSE 100 joins other European benchmarks to go lower as trade fears continue to dent sentiment
FTSE 250 closed also lower - just shy of 160 points lower at 20,684, while FTSE small cap market shed around 25 points
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Greene King enjoying the summer sunshine
The oil sector dominates the corporate news agenda on Thursday but it is also difficult to get away from matters pertaining to the World Cup
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Costa Coffee demerger move hangs over Whitbread trading update
Aside from Whitbread, updates are also due in the week ahead from cruises operator Carnival, packaging firm Bunzl, struggling floorings retailer Carpetright, and pubs operator Greene King
Eco (Atlantic) Oil & Gas notes ExxonMobil offshore Guyana discovery as it updates on operations
The oil and gas producer said Exxon had encountered around 78 meters of high-quality oil-bearing sandstone reservoir at its Stabroek Block, adjacent to Eco’s Orinduik Block
So you want to invest in oil and gas, there’s a stock for every risk appetite but which will suit you best?
There are several ways to play the oil and gas sector, but, they all carry different levels of risk
Tullow Oil and Cairn Energy targets lifted by UBS
Improving investor sentiment across the sector is good news for pure-play exploration and production stocks.
Proactive Oil & Gas Highlights: Rockhopper Exploration, Premier Oil, SDX Energy, Hurricane Energy ...,
It was another busy week for the oil sector and its constituents.
Goldman Sachs upgrades Tullow Oil and Cairn Energy on crude strength
Goldman is targeting stocks with the promise of cash flow growth and operational upside
Morgan Stanley upgrades UK equities to ‘overweight’ despite Brexit uncertainty
Equities should benefit from higher commodity prices and rising corporate activity, Morgan Stanley said.
United Oil & Gas up as says “highly encouraged” as Jamaica seismic programme completes
The 3D seismic programme included the 200mln barrel Colibri target as well as multiple others like it.
FTSE 100 closes higher, boosted by oil stocks
President Donald Trump decided to abandon a key Iran nuclear deal, sending oil prices higher
RBC downgrades Tullow Oil as it sees difficulties in potential upsides
Analysts said the surge in Brent prices and the expectation of stronger cash flows had lifted the shares to its price target, however the only potential upside following this was adding new reserves to the stockpile
Tullow Oil says it is on-track to hit production target
The oiler's production averaged 87,700 bopd in the first quarter, which is in the range of full year guidance
FTSE 100 pares losses as US bond yields rise above 3%
Resource stocks suffer as US dollar makes headway on forex markets
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Big results day for banks and drugs as Lloyds and GlaxoSmithKline step up to the plate
Day ahead includes first-quarter updates from blue chip firms Lloyds Banking Group, GlaxoSmithKline, Whitbread, and Persimmon ...
Premier Oil and Ophir Energy upgraded by Barclays, while Faroe Petroleum is cut
Barclays Capital sees further upside for oil and gas firms so long as crude continues at US$65 to US$70 per barrel
Proactive Oil & Gas Summary: 88 Energy, Eland Oil & Gas, Echo, Lansdowne, Providence Resources ...
It was another busy week for the small cap oil and gas sector.
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Proactive news snapshot: Mytrah Energy, Caledonia Mining, AfriTin Mining …
A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
ULS Technology shares slide as CEO poached by Mortgage Advice Bureau
A look at some of the biggest risers and fallers in London on Wednesday
Tullow Oil and United Oil & Gas kick off Jamaica seismic programme
"We are very pleased with progress to date on our Jamaica licence and we look forward to seeing the initial results,” said chief executive Brian Larkin
FTSE 100 closes positively, just, but miners weigh
The blue-chip benchmark closed up around three points at 7,034, with the big cap miners lagging
Alba Mineral Resources appoints industry heavy hitter as oil consultant
Sue Corrigan is a geologist and geoscientist with 40 years' industry experience in both exploration and development geology
Proactive Oil Highlights: Diversified Gas & Oil, Range Resources. Europa Oil & Gas ...
Proactive takes a look at the news from the small-cap oil and gas sector
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Proactive news snapshot: Collagen Solutions, Falcon Oil & Gas, SkinBioTherapeutics …
A glance at some of the day's highlights from the Proactive Investors newswire
UKOG slumps while Falcon Oil & Gas advances
A look at some of today's top risers and fallers in London
Eco (Atlantic) passes on first seismic data from Orinduik to Total
French giant Total has an option to take a 25% working interest in Orinduik from Eco. Block might contain more than 1bn barrels
Investments and investor services
FTSE 100 ends in positive territory, bolstered by miners and weaker pound
The premier UK share index closed up around 24 points at 7,281.
Tullow Oil set for ‘rapid balance sheet strengthening’ - analyst
UBS has a ‘neutral’ rating for Tullow with a 190p price target.
Tullow Oil expected to see fewer opportunities to add value in 2018 - analyst
Crude price movements are expected to provide the main steer for Tullow's share price
Proactive Oil Highlights: Sound Energy, Touchstone Exploration, Highlands Natural Resources, UKOG, Aminex, Solo Oil
This week the oil and gas sector brought news of new exploration plans, project updates and financial results.
UBS says Tullow Oil delivered “overall decent” financial results
Earlier today Tullow boasted of its “excellent progress” in 2017.
FTSE 100 closes strongly higher as markets stabilise
The UK blue chip index closed up 138 at 7,279 - above the day’s peak of 7,255.
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Rio Tinto expected to reiterate policy of value over volume
Rio Tinto is expected to carry on returning piles of cash to shareholders but some people think a dividend cut at Glaxo is on the cards
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Bank of England rate decision eyed, plus numbers from blue chips BP and Glaxo in coming week
After November's hike, another UK rate rise is unlikely this month, although some Bank of England MPC members may vote for a rise after a unanimous vote in December
Eco Atlantic Oil & Gas: Analyst suggests possible 230% upside as exploration assets advance
“While wildcat exploration is inherently high-risk, we see an attractive risk/reward in Eco,” the analyst said in a note
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Proactive news snapshot: Galantas Gold, Challenger Acquisitions, Kefi Minerals …
A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
Rio Tinto and Glencore rise on Chinese stats
A look at some of the top risers and fallers in London today.
Tullow Oil and Eco Atlantic Oil & Gas commit to Guyana exploration project
The exploration partners are advancing the acreage which is positioned in the vicinity of ExxonMobil's major discoveries, now seen in excess of 3bn recoverable barrels
Tullow Oil shares rise after expectation beating cash flow generation
"Tullow delivered strong operational and financial performance in 2017 against the backdrop of continued industry volatility,” said Paul McDade, Tullow chief executive
Investments and investor services
FTSE 100 closes at new high as banks bolster the premier index
The UK blue chip index rose to a new record high on Wednesday
J Sainsbury expected to report sluggish like-for-like sales growth for final quarter of 2017
Deutsche Bank expects Sainsbury’s will report a 0.4% gain in LFL sales from the year before, having revised this forecast down from its previous prediction of a 1.3% increase
Jefferies upgrades Tullow Oil and downgrades Cairn Energy
Jefferies’ ‘hold’ rating for Tullow now comes with a new price target of 180p, up from 175p.
Investments and investor services
FTSE 100 closes in red; IMF cuts UK growth forecasts
The FTSE 100 index closed down 18.87 points at 7,525 on a day of light volumes
Proactive Oil News highlights: Touchstone Exploration, Hurricane Energy, Tullow Oil, Echo Energy, Green Dragon Gas, Highlands Natural Resources
A number of retail investor favourites had news this past week.
Tullow Oil could hit debt repayment target early if crude prices hold up
“At these higher oil prices, we’ll be able to deleverage very quickly,” Angus McCoss said.
Rio Tinto appoints new chairman as it announces new free cash flow targets
Rio Tinto is targeting US$1.5bn of annual additional free cash flow from 2021
Investments and investor services
Parallel Media and Physiomics lead small cap market gainers
Some of the biggest risers and fallers in London on Wednesday
Tullow Oil up as it refinances US$2.5bn reserves based lending facility
"The refinancing of our RBL credit facility was a key objective for 2017 and we are very pleased to have completed this process in line with stated guidance and ahead of our year-end target”
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Proactive weekly oil and gas highlights - Hurricane Energy, Tullow Oil, Tower Resources and Rose Petroleum plc
A look at the week's oil and gas news highlights....
Tullow Oil upgraded after better-than-expected results but debt question marks remain
Deutsche repeated a ‘buy’ recommendation and set a new price target of 225p, up from 210p previously
Stockbroker says “stage is set” for Tullow Oil to recover
Tullow upgraded its production guidance for 2017 to 85,000 to 89,000 barrels per day
Tullow Oil upgrades production guidance on “strong performance” offshore Ghana
Tullow has lifted its forecast for 2017 to a rate of 85,000 to 89,000 barrels per day
Investments and investor services
FTSE 100 closes in positive territory amid lacklustre US trade, crude higher
Defensive stocks like BAT and Imperial Brands are in demand suggesting the markets are exercising a bit of caution after the recent record-breaking run ...
Archive
M&S to announce further store closures at first half results as clothing division struggles persist
The day ahead includes interims from M&S and trading updates from Wetherspoon and Persimmon
Archive
Proactive Oil & Gas News Highlights –Shell, BP, Echo Energy, Providence Resources, Eco Atlantic Oil & Gas, Cabot Energy
Blue-chip results, acquisitions, and new drill plans were among the week's highlight narratives.
Eco Atlantic Oil & Gas advances drill plans offshore Namibia
Both Eco and Tullow see Osprey as "a highly justifiable lead” and the AIM-quoted operator is to file for an environmental certificate for drilling
Proactive oil & gas highlights: Tullow Oil, EnQuest, Victoria Oil & Gas, Angus Energy, 88 Energy, Rose Petroleum
Well results, funding deals and the start of new campaigns were the source of much of this week's oil and gas highlights.
Tullow Oil's Araku-1 exploration well misses mark
"The Araku-1 well was an ambitious wildcat exploration well that was drilled efficiently and at very low cost,” said Angus McCoss, Tullow exploration director
Tullow Oil expands Côte d'Ivoire exploration footprint
"I am very pleased to have signed the licences for these blocks and look forward to exploring again in Côte d'Ivoire,” said Paul McDade, Tullow chief executive.
Tullow Oil’s Guyana basin exploration well is a potential catalyst - broker
The Araku well could open up a new frontier and follow on exploration for Tullow in the Guyana basin.
FTSE 100 barely changed after PM's speech; Centrica slides
Not much happening among the blue-chips but Image Scan and Future were among the big movers in the small caps sector
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Proactive News Summary: GKP, Genel, Eco Atlantic Oil & Gas, Hurricane Energy, Aminex, Highlands Natural Resources
Hurricane Energy, Gulf Keystone and Highlands Natural Resources were among the week's oil and gas sector.
Archive
Proactive news snapshot: Victoria Oil & Gas, Eco (Atlantic), Highlands Natural Resources …
A glance at some of the day's highlights from the Proactive Investors newswire
Tullow Oil upgraded as it prepares to restart TEN development
A new price target of 260p sees some 33% upside to Tullow's current price of 195p.
Eco Atlantic Oil & Gas adds Total to Guyana exploration venture
The option deal, if exercised, would deliver enough cash to cover Eco’s well costs for up to two exploration wells and the costs already committed to recently completed seismic
Tullow Oil and Kosmos Energy boosted by offshore border judgement
Tullow said it will now work with the Ghanaian authorities to secure the necessary permits to restart development drilling
FTSE 100 closes lower at 7,301 as pound eases against US dollar
FTSE 100 closed 9.35 lower at 7,301 and the FTSE 250 added over 49 points at 19,566
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Proactive news snapshot: EG Solutions, Richland Resources, Galileo Resources …
A glance at some of the day's highlights from the Proactive Investors newswire
Eco (Atlantic) says 3D seismic survey of the Orinduik Block, offshore Guyana successfully completed on schedule
Eco (Atlantic) said the 3D Survey was conducted by Schlumberger Guyana Inc. (Western Geco) and has been completed successfully and on schedule
Tullow Oil weak as Jefferies downgrades its rating in review of the exploration & production sector
The US broker cut its stance for Tullow to 'hold' from 'buy' and reduced its target price to 155p, from 250p previously, pointing out that a refinancing in 2017 “remains a risk”
FTSE 100 stays weak, but off lows as US stocks rally
At 3.15pm, the UK benchmark index was down 64 points at 7,325, above the session low of 7,296.49 but still set for its worst week in nine months having dropped nearly 250 points in the last three sessions of the week
Archive
Kosmos Energy plans to capitalise on familiarity in London, for investors is it a good alternative to Tullow Oil?
What might be the motivation for Kosmos to list in London?
Blue chip results take centre stage, but Eco Atlantic and Echo Energy also feature
Shell and Tullow Oil had their respective financial results out this week.