Tullow's (TUWOY) Free Cash Flows Surpass 2023 Guidance [Yahoo! Finance]
TULLOW OIL PLC UNSP/ADR (TUWOY)
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Source: Yahoo! Finance
The company also released its outlook for 2024. It will declare full-year 2023 results in March. Operational and Financial Highlights of 2023 In a statement prior to the full-year results, the company declared that its full-year working interest production averaged 63 thousand barrels of oil equivalent per day (kboepd), including 6 kboepd of Jubilee Gas. The Jubilee facility faced water injection issues in 2023. These issues have been resolved, according to the latest updates. Despite some setbacks, TUWOY reported outstanding drilling performance with four Jubileeproduction wells and three Jubilee water injection wells coming online, and a significant increase in Jubilee production, which surpassed 100 kboepd after the start-up of Jubilee South East. The company continues its portfolio optimization efforts with the sale of the Orinduik license in Guyana. TUWOY plans to continue focusing on core production assets. The upstream player generated $1.6 billion in revenues in 2023
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