|Bid||44.78 x 0|
|Ask||44.90 x 0|
|Day's range||44.01 - 45.58|
|52-week range||13.41 - 66.22|
|Beta (5Y monthly)||2.77|
|PE ratio (TTM)||N/A|
|Earnings date||08 Sept 2021|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||29 Aug 2019|
|1y target est||N/A|
(Reuters) -Tullow Oil rebounded with a first-half profit on Wednesday and announced a development plan for its Kenya project, sending shares in the Africa-focused firm as much as 9% higher. Tullow and its joint venture partners have completed the redesign of the Kenya development project, the company said, adding the total gross capex for the project is expected to be about $3.4 billion, higher than the previous outlook. The company which entered Kenya in 2010, now expects to recover 585 million barrels of oil (mmbo) from the project over the full life of the field, which JPMorgan analysts said in a research note was at least 14% higher than their estimate.
Tullow (TUWOY) expects 2021 operating cash flow growth of $50 million if oil price averages $70 a barrel for the remaining year.
Africa-focused Tullow Oil expects a full-year operating cashflow of $600 million, steady from last year, if the oil price averages $60 a barrel for the rest of the year, it said on Wednesday. If oil prices, currently at around $76 a barrel, average $70 for the remainder of the year, operating cashflow would go up by $50 million, it added. Tullow, which refinanced it $2.3 billion debt pile this year to extend maturities, expects to invest $250 million, mainly on drilling in Ghana, and financing costs of $290 million.