Tullow Oil plc (TLW) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Speaker 1: Welcome everyone to Tullow's 2026 Speaker 1: 0.5 Year Results presentation. Speaker 1: I'm Ian Perks, Tullow's CEO, and I have now been in the role for 12 months. I'm joined today by our CFO, Speaker 1: Richard Miller. Speaker 1: This morning, Richard and I will take you through various operational, Speaker 1: financial and strategic updates Speaker 1: across all areas of the business since the start of the year. Speaker 1: Back in April, I highlighted the progress we had made in building a stable foundation for improved performance. Speaker 1: Today, I am pleased to show how this foundation is continuing to deliver positive results. Speaker 1: Richard will then go through our financials, including the refinancing transaction Speaker 1: completed in April and free cash flow generation Speaker 1: against the backdrop of high oil prices. I will then talk about the depth and scale of the opportunity set we have in Ghana and what this means for our business outlook. Speaker 1: Starting with operations, Speaker 1: production performance has been outstanding Speaker 1: in the 1st 0.5 of the year, Speaker 1: and we are now confident of being at the high end of our guidance range by year-end. Speaker 1: We have added material 2P reserves, Speaker 1: delivering reserve replacement Speaker 1: of around 380%. Speaker 1: We've also continued to de-risk the business plan as we firm up future drilling campaigns and projects. Speaker 1: The strong operational performance Speaker 1: flows through to our financials, Speaker 1: where we have significantly Speaker 1: upgraded free cash flow guidance Speaker 1: from between $70 and $175 Speaker 1: million to between $170 Speaker 1: and $250 Speaker 1: million. Speaker 1: In April this year, we completed a comprehensive Speake...