Tullow Oil has reported a post-tax loss of $1.22 billion for 2020, with production to continue sliding in 2020.
Kosmos Energy expects its capital expenditure to reach $575-625 million this year, driven largely by its work with BP offshore Mauritania and Senegal.
Tullow Oil has chosen Maersk Drilling to provide an ultra-deepwater drillship for work on the TEN and Jubilee fields, offshore Ghana.
Tullow Oil has secured its reserve-based lending (RBL) facility at $1.9 billion, giving it around $700 million of liquidity, while slashing its spending this year further from plans announced just two weeks ago.
Tullow Oil has terminated a drilling contract with the Maersk Venturer in Ghana, in line with the operator’s plans to save cash amid a difficult year.
Maersk Drilling has been awarded a $44million contract for the drillship Maersk Venturer with oil major Total.