Tullow Oil Plc · LSE:TLW
Tullow Oil — H1 2021 Earnings Presentation
10 slides from Tullow Oil's earnings presentation, Sep 15, 2021
Slide 1: Fact Book: Tullow Oil plc 2021 Half Year Results
• Fact Book • Tullow Oil plc | 2021 Half Year Results • 15 September 2021
Slide 2: Where we operate; Production, Reserves and Resources
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 Half Year Results
Summary of 2021 Half Year Results 1H 2021 1H 2020 Sales revenue ($m) 727 731 Gross profit ($m) 321 164 Operating profit/(loss) ($m) 370 (1,306) Profit/(loss) before tax ($m) 213 (1,436) Profit/(loss) after tax ($m) 93 (1,327) Basic earnings/(loss) per share (cents) 6.5 (94.2) Underlying operating ca
Slide 4: Working Interest Production
Working Interest Production1 1H 2021 Actual FY 2021 Forecast Production (kboepd) (kboepd) GHANA Jubilee 25.1 26.4 TEN 17.4 15.7 Total Ghana 42.5 42.1 Ceiba 0.8 0.4 Okume 1.3 0.7 Total Equatorial Guinea2 2.1 1.1 Tchatamba 2.9 2.8 Limande 0.8 0.9 Etame Complex 1.1 1.1 Other Gabon3 10.0 10.5 Total Gabo
Slide 5: Capital Expenditure (Capex)
Capital Expenditure (Capex) 1H 2021 CAPEX – Actuals ($m) Exploration & Appraisal Development 1H 2021 Total Ghana - 45 45 Non-Op - 15 15 Kenya - 5 5 Exploration 36 - 36 TOTAL 36 65 101 FY 2021 CAPEX – Forecast ($m) Exploration & Appraisal Development 2021 Total Ghana - 160 160 Non-Op - 46 46 Kenya -
Slide 6: Costs and Depreciation
Costs and Depreciation Operating Data 1H 2021 2021 Forecast OPERATING COSTS 1 $/boe $/boe Equatorial Guinea 22.4 23 Côte d’lvoire 21.0 25 Gabon 2 24.5 24 Ghana 9.8 11 1H 2021 2021 Forecast DEPRECIATION 1 $/boe $/boe Côte d’lvoire 15.5 14 Gabon 3.8 4 Ghana 20.1 19 1. Data on a working interest basis.
Slide 7: Liquidity and Hedging
Liquidity and Hedging Liquidity Position $m 30 Jun 2021 Cash and cash equivalents 300 Cash in trust for convertible bondholders (Due in July 2021) 310 Debt drawings Convertible Bond ($300m) 300 Senior Notes ($2,600m) 1 2,600 Revolving Credit Facility ($500m) - Total debt 2,900 Net debt 2,290 Facilit
Slide 8: 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 Total mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmboe COMMERCIAL RESERVES 1 Jan 2021 180.1 179.2 48.4 11.1 – – – – 228.5 190.2 260.2 Revisions – – 0.2 (0.1) – – – – 0.2 (0.1) 0.2
Slide 9: Net Daily Entitlement as % Production
Net Daily Entitlement as % Production West Africa Production Contract Type 2021 ($60/bbl) 2021 ($70/bbl) CÔTE D’IVOIRE Espoir PSC 99 99 GABON Echira Corp Tax 100 100 Etame PSC 0 0 Limande Corp Tax 100 100 Niungo Corp Tax 100 100 Oba Corp Tax 100 100 Ezanga PSC 87 87 Tchatamba Corp Tax 100 100 Turnix
Slide 10: 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 Fax: +44 (0)20 3249 8801 Email: ir@tullowoil.com Web: www.tullowoil.com