Tullow Oil publishes Trading Statement & Operational Update
Wednesday, Jan 10, 2018
Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2017. This is in advance of the Group’s Full Year Results, which are scheduled for release on Wednesday 7 February 2018. The information contained herein has not been audited and may be subject to further review and amendment.

"Tullow delivered strong operational and financial performance in 2017 against the backdrop of continued industry volatility. The business is expected to generate free cash flow of $0.5 billion, above expectations, due to high levels of operated production and further progress on cost and capital efficiency. There was also material improvement in the Group’s balance sheet, with significantly reduced gearing and an overall reduction in net debt of $1.3 billion. Over 2018 we expect to continue this positive momentum. With our diverse low-cost assets and high-graded exploration portfolio, enhanced by recent licence additions in Côte d'Ivoire and Peru, we have a strong foundation to grow the business and further reduce our debt."

Click here to open the full Trading Statement and Operational Update

For more information, please visit: https://www.tullowoil.com/
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