Tullow ups 2018 output forecast, provisions for Seadrill claim [Reuters]
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Source: Reuters
Tullow ups 2018 output forecast, provisions for Seadrill claim | Reuters Reuters Staff 2 Min Read LONDON, June 28 (Reuters) - Tullow Oil on Thursday raised its 2018 production outlook to 86,000-92,000 barrels of oil per day from 82,000-90,000 bopd, boosted by its offshore fields in Ghana. The Africa-focused firm said it has contracted a second rig for its Ghana fields to start work in October on three wells, without increasing its capital expenditure programme. Tullow said it is preparing for the London Commercial Court to decide on a $277 million claim brought by Seadrill over the termination of the West Leo rig contract for force majeure in Ghana. Tullow has set aside $128 million in case it loses. Tullow is also working towards growing output in West Africa in Ivory Coast, where it has farmed out its licenses to Cairn Energy retaining 60 percent, but with Cairn set to pay for most of the pre-drilling exploration costs. Looking to further output growth, Tullow is due to start explor
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