Tullow Oil Plc · LSE:TLW
Tullow Oil — FY2024 Earnings Presentation
9 slides from Tullow Oil's earnings presentation, Mar 25, 2025
Slide 1: Fact Book: 2024 Full Year Results
Fact Book Tullow Oil plc | 2024 Full Year Results 25 March 2025
Slide 2: Where we operate
Where we operate Africa Cote d’Ivoire E D P UK Gabon E D P Ghana E D P Kenya E D South America Argentina E Côte d'Ivoire Ghana Decommissioning Kenya United Kingdom DC Gabon Key: Argentina E Exploration D Development P Production DC Decommissioning 2024 Group working interest production, reserves and
Slide 3: Summary of 2024 Full Year Results
Summary of 2024 Full Year Results 2024 2023 Sales revenue ($m) 1,535 1,634 Gross profit ($m) 754 765 Operating profit/ (loss) ($m) 596 296 Profit before tax ($m) 322 96 Profit/ (loss) after tax ($m) 55 (110) Basic earnings/ (loss) per share (cents) 3.7 (7.6) Underlying operating cash flow ($m) 668 8
Slide 4: Production and capital expenditure
Production and capital expenditure Group production (kboepd) 2024 Actual Jubilee oil 33.9 TEN oil 10.2 Total Ghana oil 44.1 Gabon 9.6 Côte d’Ivoire 1.0 Non-operated portfolio oil 10.6 Gas production 6.6 GROUP PRODUCTION TOTAL 61.2 FY 2025 Range 50-55 2024 Capital expenditure – Actuals ($m) Explorati
Slide 5: Operating expenditure and depreciation
Operating expenditure and depreciation Operating Data 2024 2025 Forecast OPERATING COSTS 1 $/boe $/boe Côte d’lvoire 42.7 44 Gabon 2 29.2 26 Ghana 8.6 11 2024 2025 Forecast DEPRECIATION 1 $/boe $/boe Côte d’lvoire 21.9 17 Gabon 7.3 8 Ghana 21.4 18 1. Working interest basis. 2. Includes royalties. Pa
Slide 6: Liquidity, net debt and hedging
Liquidity, net debt and hedging Liquidity headroom $m 31 Dec 2024 Revolving Credit Facility (SSRCF) 250 Free cash balance 465 Total facility headroom plus free cash 715 Net debt $m 31 Dec 2024 Total debt 1 2,007 Total cash on balance sheet 2 (555) Total net debt 1,452 1. $493m notes due 2025, $1,385
Slide 7: 2024 reserves and resources summary
2024 reserves and resources summary Ghana Non-operated7 Kenya TOTAL Oil Gas Oil Gas Oil Gas Oil Gas Petroleum mmbbl Bcf mmbbl Bcf mmbbl Bcf mmbbl Bcf mmboe6 COMMERCIAL RESERVES1 31-Dec-23 143.8 151.7 41.9 6.8 - - 185.7 158.5 212.2 Revisions3,4 (22.9) - (1.6) (4.5) - - (24.5) (4.5) (25.3) Production
Slide 8: Net daily entitlement as % production
Net daily entitlement as % production West Africa fields Contract Type 2024 ($80/bbl) CÔTE D’IVOIRE Espoir PSC 70 GABON Echira Corp Tax 100 Etame 1 PSC 0 Niungo Corp Tax 100 Ezanga PSC 79 Tchatamba Corp Tax 100 Simba Corp Tax 100 GHANA Jubilee & TEN PA 95 1. At a higher oil price, Tullow might be en
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