Tullow Oil Plc · LSE:TLW
Tullow Oil — FY2021 Earnings Presentation
9 slides from Tullow Oil's earnings presentation, Mar 9, 2022
Slide 1: Fact Book: 2021 Full Year Results
• Fact Book • Tullow Oil plc | 2021 Full Year Results • 9 March 2022
Slide 2: Where we operate
Where we operate Africa Cote d’Ivoire E D P Ghana E D P UK Equatorial Guinea1 D P Kenya E D Gabon E D P Namibia E South America Mauritania Argentina E Peru E Guyana Ghana Côte d'Ivoire Suriname Guyana E Suriname E Equatorial Guinea Kenya Gabon Peru Decommissioning Namibia United Kingdom DC Mauritani
Slide 3: Summary of 2021 Full Year Results
Summary of 2021 Full Year Results 2021 2020 Sales revenue ($m) 1,273 1,396 Gross profit ($m) 634 403 Operating profit/ (loss) ($m) 515 (1,018) Profit/ (loss) before tax ($m) 203 (1,273) Loss after tax ($m) (81) (1,222) Loss per share (cents) (5.7) (86.6) Free cash flow ($m) 245 432 Net debt ($m) 1 2
Slide 4: Production and capital expenditure
Production and capital expenditure 2021 Actual FY 2022 Range Working interest production1 (kboepd) (kboepd) Jubilee 26.6 28-30 TEN 15.5 11-12 Total Ghana 42.1 39-42 Non-operated portfolio 17.2 16-19 PRODUCTION TOTAL 59.2 55-61 1. Includes condensate 2021 Capital expenditure – Actuals ($m) Exploratio
Slide 5: Operating expenditure and depreciation
Operating expenditure and depreciation Operating Data 2021 2022 Forecast OPERATING COSTS 1 $/boe $/boe Côte d’lvoire 25.4 33.0 Gabon 2 25.3 21.0 Ghana 10.9 10.0 2021 2022 Forecast DEPRECIATION 1 $/boe $/boe Côte d’lvoire 17.8 20.0 Gabon 3.5 5.0 Ghana 21.6 18.0 1. Working interest basis. 2. Includes
Slide 6: Liquidity, net debt and hedging
Liquidity, net debt and hedging Liquidity headroom $m 31 Dec 2021 Revolving Credit Facility (SSRCF) 500 Free cash balance 376 Total facility headroom plus free cash 876 Net debt $m 31 Dec 2021 Total debt1 2,600 Total cash on balance sheet2 (469) Total net debt 2,131 1. $800m high yield bonds due 202
Slide 7: 2021 reserves and resources summary
2021 reserves and resources summary Ghana Non Op Kenya Exploration TOTAL Oil Gas Oil Gas Oil Gas Oil Gas Oil Gas Petroleum mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmboe COMMERCIAL RESERVES1 31 Dec 2020 180.1 179.2 48.4 11.1 - - - - 228.5 190.2 260.2 Revisions3,4,6 3.5 (40.3) 11.1 (2.7) - -
Slide 8: Net daily entitlement as % production
Net daily entitlement as % production West Africa Production Contract Type 2022 ($75/bbl) CÔTE D’IVOIRE Espoir PSC 99 GABON Echira Corp Tax 100 Etame PSC 01 Limande Corp Tax 100 Niungo Corp Tax 100 Oba Corp Tax 100 Ezanga PSC 89 Tchatamba Corp Tax 100 Turnix Corp Tax 100 Middle Oba Corp Tax 100 Igon
Slide 9: Tullow Oil plc contact details
Tullow Oil plc 9 Chiswick Park, 566 Chiswick High Road London W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Email: ir@tullowoil.com Web: www.tullowoil.com