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Davy Research

Tullow Oil

H1 results confirm the business remains on track

Sep 13 2023, 07:10 IST/BST
Colin Grant
Company Report
5 page(s)

Sectors : Resource

Companies : Tullow Oil

Ratings and price correct at time of issue.

Tullow Oil

Closing Price: 37.7p
RATING 15/01/20
OUTPERFORM
PREVIOUS RATING 09/12/19

UNDER REVIEW

Person's Name

Colin Grant

Analyst

DAVY VIEW

Tullow has reported its H1 2023 results and maintained FY2023 free cashflow guidance of $100m assuming a price of $80/bbl. The company continues to expect net debt of $1.7bn at end-2023 and has maintained its medium-term cashflow guidance. There is material upside to this based on the spot price of Brent.

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Sep 13 2023, 07:10 IST/BST