Talk:Tullow Oil

194.74.159.185

194.74.159.185 (talk · contribs · deleted contribs · logs · filter log · block user · block log) has edited this article; and resolves to Tullow Oil. Andy Mabbett (Pigsonthewing); Talk to Andy; Andy's edits 12:38, 5 January 2012 (UTC)

Proposed changes

I work in the communications team for Tullow Oil as a communications adviser and therefore declare a conflict of interest. I have set up this account to request amendments to the Tullow Oil Wikipedia page as some of the key statistics and information on the page are out of date. I understand that the company should not make any amendments to the page directly and should request edits only via the talk page for the Tullow Oil Wikipedia page. Please advise if any further information is required.

Text to be amended: Key people currently lists only Dorothy Thompson - Chairperson Suggested amendment: Key people to include Rahul Dhir who will join Tullow as CEO in July 2020. Reference supporting change: https://www.irishtimes.com/business/energy-and-resources/tullow-oil-appoints-rahul-dhir-as-its-new-chief-executive-1.4234038

The statistics for countries, licences, production fields and production rates are out of date. Text to be amended: It has interests in over 150 licenses across 25 countries with 67 producing fields and in 2012 produced on average 79,200 barrels of oil equivalent per day.[3] Its largest activities are in Africa and the Atlantic Margins, where it has discovered new oil provinces in Ghana, Uganda, Kenya and French Guiana.

Tullow's main production comes from six countries in Africa as well as the Southern North Sea and Asia.[4][5] Ghana's offshore Jubilee oil field which was discovered in 2007 and started production in December 2010 is Tullow's largest discovery.[2]

As at 31 December 2012 Tullow had total group reserves and resources of 1.2 billion barrels of oil equivalent including commercial reserves of 388 million barrels of oil equivalent.[6] Tullow's 2012 exploration and appraisal drilling success rate was 74%[6] around double the industry average;[7] this success has been ascribed to its drilling in geological formations similar to those in which oil has been discovered at other locations. For example, a formation off the coast of South America which is similar to formations in West Africa.[7]

Suggested amendment: It has interests in over 70 licenses across 15 countries with 28 producing fields and in 2019 produced on average 86,800 barrels of oil equivalent per day. Its largest activities are in Africa and South America, where it has discovered new oil provinces in Ghana, Uganda, Kenya and Guyana.

Tullow's main production comes from Ghana. The offshore Jubilee oil field which was discovered in 2007 and started production in December 2010 is Tullow's largest discovery. Tullow’s second major discoveries and subsequent development in Ghana is the TEN field. First oil was achieved on time and on budget in August 2016, three years after the Plan of Development was approved by the Government of Ghana.

As of 31 December 2019 Tullow had group reserves of 1,182.5 million barrels of oil equivalent including commercial reserves of 218.6 million barrels of oil equivalent.

References supporting change: https://www.investegate.co.uk/tullow-oil-plc--tlw-/rns/final-results/202003120700048935F/ https://www.tullowoil.com/about-us/ https://www.tullowoil.com/our-operations/ https://www.tullowoil.com/our-operations/africa/ghana/

The History section does not include information after 2014. Suggested text to add: On 17 March 2017, Tullow announced a $750 million rights issue as the oil producer struggled with a very low oil price. Tullow generated record production of 94,700 boepd in 2017, beating original guidance and boosted by strong performance at TEN and Jubilee. The ITLOS ruling in September, which had no adverse impact on Tullow, provided clarity for the business in both Ghana and Côte d'Ivoire. In Kenya, Tullow completed the South Lokichar Basin appraisal programme and through confirming material oil resources to support substantial production, defined a development project focused on the Amosing and Ngamia fields as the Foundation Stage.

In 2018 Tullow continued to build on the progress made in 2017, further strengthening the balance sheet, maintaining cost and capital discipline, delivering operational targets and continuing to build an exciting exploration portfolio. Tullow produced 90,000 boepd during the year and delivered significant free cash flow of over $400m, firmly establishing Tullow as a self-funding oil company, balanced across exploration, development and production. 2018 also saw changes at Board level with the retirement of founder, Aidan Heavey and the arrival of Dorothy Thompson as the new Chair.

Tullow ended 2019 with average production of 86,700 bopd and free cash flow generation of c.$350 million. Tullow’s senior team undertook a major review focused on delivering a more efficient and effective organisation. The fundamentals of the business remain intact and the Board and senior management are confident of the long-term potential of the portfolio and see opportunities to improve operational performance, reduce the cost base, deliver sustainable free cash flow and reduce debt. CEO Paul McDade resigned in December 2019 and Dorothy Thompson was appointed as Executive Chair until a new CEO was appointed. In April 2020, Tullow announced that Rahul Dhir had been appointed as the new CEO with effect from July 2020.

On 23 April 2020 Tullow announced that it had agreed the sale of its assets in Uganda to Total for US$575 million in cash plus post first oil contingent payments with an effective date of 1 January 2020.

References supporting change: https://www.bloomberg.com/news/articles/2019-12-09/tullow-ceo-quits-amid-poor-production-dividend-suspended https://www.tullowoil.com/about-us/our-story/ https://www.irishtimes.com/business/energy-and-resources/tullow-oil-agrees-sale-of-stake-in-uganda-oil-fields-to-total-for-531m-1.4235869

Operations information is out of date. Text to amend: Tullow Oil plc is one of the largest independent oil and gas exploration and production companies in Europe. The Group is entering its next phase of growth with a major focus on Africa and the Atlantic Margins basin, where Tullow is already a dominant player following exploration success in Ghana, French Guiana, Uganda and Kenya. Tullow has a large portfolio of exploration and production assets with a focus on balanced long-term growth. The Group has interests in over 150 licences across more than 20 countries, producing from a total of 67 fields. In 2012, average working interest production was 79,200 barrels (12,590 cubic metres) per day of oil equivalent, generating sales revenue of $2.3bn with capital expenditure of around $1.9bn. The majority of spend was again focused on Africa and Atlantic Margins operations ensuring the world-class projects in Ghana and Uganda and exploration activity in Kenya, Ethiopia, West Africa and South America continue to deliver future growth.[23]

Suggested amendment: Tullow Oil plc is one of the largest independent oil and gas exploration and production companies in Europe. The Group is focused on Africa and South America, where Tullow is already a dominant player following exploration success in Ghana, Uganda and Kenya. The Group has interests in over 70 licences across more than 15 countries, producing from a total of 28 fields. In 2019, average working interest production was 86,800 barrels per day of oil equivalent, generating sales revenue of $1,683 million with capital expenditure of around $490 million.

References supporting change: https://www.investegate.co.uk/tullow-oil-plc--tlw-/rns/final-results/202003120700048935F/ https://www.tullowoil.com/about-us/

TullowComms (talk) 12:57, 27 May 2020 (UTC)

hello @TullowComms: ! after I reviewed your request very carefully, you have my approval to implement the changes above but please adhere to a natural point of view. the reason i have to not done the change is that i see that you want to change a lot of info so i thought it is better if you do it rather than me doing it to make sure the info is the most accurate. I also apologise for any delay caused, it seemed no one was checking the edit request list for a long time. ps: next time you submit an edit request could you only do it one time even if there is multiple requests. many thanks Trains2050 (talk) 17:41, 9 June 2020 (UTC)

Hi @Trains2050: Thank you for approving the requested changes to the page. The page has now been updated TullowComms (talk) 11:11, 17 June 2020 (UTC)

Text for Major Projects Section

I work in the communications team for Tullow Oil as a communications adviser and therefore declare a conflict of interest. I have set up this account to request amendments to the Tullow Oil Wikipedia page. I understand that the company should not make any amendments to the page directly and should request edits only via the talk page for the Tullow Oil Wikipedia page. We would like to add more information to the major projects section of the Tullow Oil article page as some key projects are missing.

Suggested text to add: Following seismic acquisition and interpretation, Tullow and its partners drilled two successful exploration wells in 2007. The wells discovered the major Jubilee oil field in the Gulf of Guinea’s Tano Basin offshore Ghana. The Jubilee Cretaceous turbidite reservoir straddled both licences; Deepwater Tano and West Cape Three Points. In October 2008, Tullow was appointed as the Jubilee field Operator and set about working with the partners and Government of Ghana on developing the field to bring Ghana its first major oil production. The Minister of Energy in Ghana formally approved the Jubilee field Phase 1 Development Plan and Unitisation Agreement on behalf of the Government of Ghana in July 2009. References supporting change: https://www.tullowoil.com/our-operations/africa/ghana/ https://www.ogj.com/exploration-development/article/17277511/ghana-approves-first-development-phase-of-jubilee-oil-field

In November 2010, following a successful development programme, which included the building of a Floating Production Offtake Vessel (FPSO), first oil was achieved from the Jubilee field. This was some 40 months post the initial discovery well which represents the fastest ever comprehensive full scale deepwater development. The field is Tullow’s key asset and generates significant high-margin oil production for the Group. Reference supporting change: https://www.offshore-mag.com/regional-reports/article/16794658/anadarko-announces-first-oil-at-the-jubilee-field-offshore-ghana

In April 2012, Tullow made a major oil discovery in another country which had never found oil before. This time the Ngamia-1 well in Northern Kenya found 100m of net oil pay (later increased after appraisal to 200m). In December 2012, Tullow acquired Spring Energy, an exploration company based in Oslo with assets throughout offshore Norway, for £372m. Reference supporting change: https://www.tullowoil.com/about-us/our-story/

In May 2013, the Plan of Development for TEN, Tullow’s second major discoveries and subsequent development in Ghana, was approved by the Government of Ghana and Tullow commenced its second major Operated deepwater development. Reference supporting change: https://www.tullowoil.com/our-operations/africa/ghana/

In 2014 in East Africa, the Group made further discoveries in Kenya to help underpin the South Lokichar Basin’s commercial potential. Appraisal activity continued in Kenya in 2015, and nine successful appraisal wells underpinned the discovered resource base and upside potential of the South Lokichar Basin. Reference supporting change: https://www.tullowoil.com/about-us/our-story/

In August 2016 Tullow delivered Ghana’s second major oil and gas development, the TEN fields, on time and on budget. Reference supporting change: https://www.energyvoice.com/oilandgas/africa/117159/tullow-oil-celebrates-first-oil-ten/

We would also like to make a text amendment to the following paragraph and remove the reference to the share price as the event did not lead to a significant drop in share price.

Text to amend: In March 2014, Tullow Oil was forced to invoke a force majeure clause on its oil production project offshore Guinea after the US Department of Justice and the Securities and Exchange Commission opened a corruption investigation into the firm's partner in the project, Hyperdynamics Corporation. Tullow took over the concessions to the project only a year previously in April 2013, and had plans to start drilling for oil in the second quarter of 2014. The delay set Tullow back notably in Guinea and the firm will only resume operations when the issues are resolved. Its share price decreased considerably as a result of the news.[35]

Suggested text: In March 2014, Tullow Oil was forced to invoke a force majeure clause on its oil production project offshore Guinea after the US Department of Justice and the Securities and Exchange Commission opened a corruption investigation into the firm's partner in the project, Hyperdynamics Corporation. Tullow took over the concessions to the project only a year previously in April 2013, and had plans to start drilling for oil in the second quarter of 2014. The delay set Tullow back notably in Guinea and the firm will only resume operations when the issues are resolved.[35]

TullowComms (talk) 11:57, 10 July 2020 (UTC)

Request amendment to number of countries Tullow operates in

Current text: Overview: It has interests in over 70 licenses across 15 countries with 28 producing fields and in 2019 produced on average 86,800 barrels of oil equivalent per day.[3]Its largest activities are in Africa and South America, where it has discovered new oil provinces in Ghana, Uganda, Kenya and Guyana.

Proposed text: It has interests in over 70 licenses across 14 countries with 28 producing fields and in 2019 produced on average 86,800 barrels of oil equivalent per day.[3]Its largest activities are in Africa and South America, where it has discovered new oil provinces in Ghana, Uganda, Kenya and Guyana. Source: https://www.tullowoil.com/about-us/

Current text: Operations: The Group has interests in over 70 licences across more than 15 countries, producing from a total of 28 fields.

Proposed text: The Group has interests in over 70 licences across more than 14 countries, producing from a total of 28 fields. Source: https://www.tullowoil.com/about-us/

TullowComms (talk) 13:04, 7 August 2020 (UTC)