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Kenmare

H1 2024 results

Kenmare has reported H1 2024 results that are as expected given its previous Q2 production update. H1 shipments were impacted by weather, so full year earnings will be H2 weighted and...

Kenmare

Appointment of Managing Director

Kenmare has announced that Tom Hickey, the current Finance Director, has been appointed Managing Director. This is effective from August 15th. He succeeds Michael Carvill, who will step...

Tullow Oil

H1 results as expected and FY2024 guidance maintained

Tullow’s H1 2024 results are as expected following its AGM statement on May 16th, and it has maintained free cash flow and net debt guidance for FY2024. We continue to await news on...

Kenmare

Q2 production update and reaffirmed guidance

Kenmare’s Q2 production update reflects volumes that are in line with expectations, and guidance has been maintained for FY2024 on all metrics. Demand is robust and the company is in a...

Kenmare

Positive update on capital projects

Kenmare has provided an update on its capital projects. It has completed the Design Feasibility Study (DFS) for the upgrade of WCP A and its transition to the Nataka ore zone....

Kenmare

New forecasts reflect the benefit of factoring

We are publishing new forecasts for Kenmare. The most significant change is that we now assume $100m of factoring of receivables in 2024 prior to drawing down the new $200m credit...

Kenmare

Q1 production data

Kenmare has reported Q1 production that is broadly in line with last year (as it previously indicated). This was impacted by power interruptions and maintenance works. The company has...

Tullow Oil

FY2023 results

Tullow’s FY2023 results follow the trading statement provided on January 24th. The company retains its forecast of achieving $800m of free cashflow during 2023-2025. Net debt was...

Kenmare

New forecasts and revisiting the outlook

We update our Kenmare forecasts following the Q4 production report last week. Changes reflect a softer pricing backdrop in 2023 and latest volume and capex guidance. Current capex...

Tullow Oil

The investment case is shifting

Tullow Oil has made huge strides in dealing with its debt. Most recently, this includes the Glencore loan facility and tender offers – leading to a rally in its bond price despite weakness...