Tullow Oil PLC (LSE:TLW)
£ 0.3816 0.0024 (0.63%) Market Cap: 555.88 Mil Enterprise Value: 2.54 Bil PE Ratio: 0 PB Ratio: 0 GF Score: 46/100
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Tullow Oil PLC Trading Statement & Operational Update Call Transcript

Jan 26, 2022 / 09:00AM GMT
Release Date Price: £0.57 (+0.28%)
Operator

(technical difficulty)

Here, our financial situation was pretty dire. And we had a -- we did well in terms of nearly $1 billion in self-help that was through asset sales and cost savings. We started implementing our operational improvement plan and the market has helped. So all that really led to the big refinancing that Les and the team did back in May. And that really put the company in a very firm solid financial footing and has really enabled us to then start to deliver on the value-creation plan, which is based on the business plan that we've outlined in November of 2020. So that's at the Capital Markets Day, if you remember. So that was kind of the one thing really sort of resolving the balance sheet.

The second big thing for us last year really has been this operational turnaround. And I'd kind of point you to one thing which gives us good evidence, which is really uptime. So the average uptime across both Jubilee and the TEN FPSOs last year was in excess of 97%. And I don't think we've ever achieved that across both FPSOs in the past. The other thing we started doing in Ghana

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