Tullow Oil Plc · LSE:TLW
Tullow Oil — H1 2022 Earnings Presentation
9 slides from Tullow Oil's earnings presentation, Sep 14, 2022
Slide 1: Fact Book: 2022 Half Year Results
• Fact Book • Tullow Oil plc | 2022 Half Year Results • 14 September 2022
Slide 2: Where we operate
Where we operate Africa Cote d’Ivoire E D P Ghana E D P UK Kenya E D Gabon E D P South America Argentina E Guyana E Mauritania Guyana Ghana Côte d'Ivoire Decommissioning Kenya Gabon United Kingdom DC Mauritania DC Key: Argentina E Exploration D Development P Production DC Decommissioning Group worki
Slide 3: Summary of 2022 Half Year Results
Summary of 2022 Half Year Results 1H 2022 1H 2021 Sales revenue ($m) 846 727 Gross profit ($m) 620 321 Operating profit ($m) 696 370 Profit before tax ($m) 548 213 Profit after tax ($m) 264 93 Basic earnings per share (cents) 18.4 6.5 Underlying operating cash flow ($m) 165 218 Pre-financing cash fl
Slide 4: Production and capital expenditure
Production and capital expenditure 1H 2022 Actual FY 2022 Range Working interest production1 (kboepd) (kboepd) Jubilee 30.8 30-32 TEN 12.5 13-14 Total Ghana 43.3 43-46 Non-operated portfolio 17.6 16-19 PRODUCTION TOTAL 60.9 59-65 1. Includes condensate 1H 2022 Capital expenditure – Actuals ($m) Expl
Slide 5: Operating expenditure and depreciation
Operating expenditure and depreciation Operating Data 1H 2022 2022 Forecast OPERATING COSTS 1 $/boe $/boe Côte d’lvoire 21.6 26.0 Gabon 2 27.8 27.0 Ghana 10.5 10.0 1H 2022 2022 Forecast DEPRECIATION 1 $/boe $/boe Côte d’lvoire 16.4 20.0 Gabon 4.8 5.0 Ghana 20.1 19.0 1. Working interest basis. 2. Inc
Slide 6: Liquidity, net debt and hedging
Liquidity, net debt and hedging Liquidity headroom $m 30 Jun 2022 Revolving Credit Facility (SSRCF) 500 Free cash balance 108 Total facility headroom plus free cash 608 Net debt $m 30 Jun 2022 Total debt1 2,500 Total cash on balance sheet2 (164) Total net debt 2,336 1. $800m high yield bonds due 202
Slide 7: 1H22 reserves and resources summary
1H22 reserves and resources summary Ghana Non Op Kenya Exploration TOTAL Petroleu Oil Gas Oil Gas Oil Gas Oil Gas Oil Gas m mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmboe COMMERCIAL RESERVES1 1 Jan 2022 168.3 138.9 38.8 7.1 - - - - 207.1 146.0 231.4 Revisions,3,4 - - 0.2 - - - - - 0.2 - 0.2
Slide 8: Net daily entitlement as % production
Net daily entitlement as % production West Africa Production Contract Type 2022 ($95/bbl) CÔTE D’IVOIRE Espoir PSC 99 GABON Echira Corp Tax 100 Etame PSC 13 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