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Tullow Oil plc (TUWOY) Discusses Strategic Refinancing, Operational Progress, and Focus on Core Ghana Assets Prepared Remarks Transcript
Tullow Oil PLC (LSE:TLW) has agreed to acquire the FPSO (floating production, storage and offloading vessel) used at Ghana's TEN fields for $205 million, a move it says will remove annual lease costs and lower fixed spending as it looks to extend the economic life of both TEN and the adjacent Jubilee hub. The company said its subsidiary Tullow Ghana Limited, acting for the TEN joint venture, has signed a sale and…
London-listed, West Africa-focused oil and gas company Tullow Oil has entered refinancing deals with Glencore and owners of about two-thirds of its $1.3 billion senior secured notes, extending debt maturities by over two years to November 2028.
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