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Tullow Oil expects full-year cash at USD 700 million by the end of 2018

Gasoil News - Published on Fri, 16 Nov 2018

Image Source: Citi Business News
Reuters reported that Tullow Oil expects full-year free cash flow to come in at USD 700 million and forecasts net debt to drop to USD 2.8 billion by the end of the year. The company had previously said it might reach free cash flow of about USD 650 million. Net debt had stood at USD 3.1 billion at the end of the first half of the year.

In a trading update, Tullow also narrowed its production forecast for the year to between 89,300 barrels of oil equivalent per day (boepd) and 93,300 boepd. It had previously put the range at 89,000-95,000 boepd.

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Posted By : Joykumar Irom on Fri, 16 Nov 2018
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