Tullow Oil PLC (CHIX:TLWl)

Full Year 2024 Tullow Oil PLC Earnings Call Transcript

Mar 25, 2025 / 09:00 AM GMT

Release Date Price: £0.1503 (+5.55%)

Transcript

Key Points

Positve

Tullow Oil PLC (TUWLF) successfully completed a 4D seismic campaign ahead of schedule and under budget, enhancing their understanding of reservoir dynamics.
The company achieved a significant reduction in net debt, down by $1.8 billion since the end of 2019, with expectations to further reduce it to $1 billion by the end of 2025.
Operational improvements were noted, with top quartile facility uptime in 2024, achieving 97% at TEN and 98% at Jubilee.
Tullow Oil PLC (TUWLF) announced the disposal of its Gabon business for $300 million, which will accelerate deleveraging efforts.
The company is on track to eliminate non-routine flaring by the end of the year, contributing to its net-zero commitments.

Negative

Production challenges were faced in Jubilee in the second half of 2024, leading to a reserve write-down.
The company experienced a steeper than expected production decline in 2024 due to water injection performance issues.
Organic free cash flow for 2025 is guided at $100 million, a decrease from the previous year, impacted by delayed gas payments in Ghana.
The company is still in the process of resolving tax arbitrations with the government of Ghana, with formal hearings scheduled for later in the year.
Tullow Oil PLC (TUWLF) revised down its reserves due to increased water cuts, indicating inefficiencies in water sweep from injectors to producers.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TLW.L - Tullow Oil PLC
Full Year 2024 Tullow Oil PLC Earnings Call
Mar 25, 2025 / 09:00AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning everyone and thank you for joining us today. I'm Richard Miller, CFO and also temporarily interim CEO whilst the process to find a full-term replacement CEO is finalized.

That process is proceeding well, and it won't be long before I sit here just as the CFO.

I would like to take this opportunity to thank Rahul for his 4 years of service at Tullow and to my colleagues on the senior leadership team for their support during this period.

Now, if we move on to the presentation.

We have strong momentum within the business, driven by progress in 2024, achievements year-to-date, and a clear set of catalysts and levers in 2025 to unlock the full potential of Tolo.

2024 saw continued

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.