Only $141m of Tullow Sub Bonds were tendered at 92%, spending c.$130m of the $300m allocated to the tender. With the bonds trading in the

S&P downgraded Tullow’s corporate rating to SD (selective default) as a result of the sub-par tender for the 2026 Senior Secured Notes.  We have previously highlighted that this was probable, but still

Tullow is a frustrating name for us as we were unable to convince clients about the merits of a long position in the name over the summer. Tullow announced the

Tullow have secured a 5-year debt facility from Glencore, which will be pari-passu with the “sub-2025 Notes”, and subordinated to the Senior Secured

Press reports that a group of senior secured bondholders are working with Cleary Gottlieb to attempt to stop the Company from doing further buybacks of

There has been no material change in Tullow’s share price this morning after the army seized power from President Ali Bongo in

Tullow continues its portfolio rationalising process with the disposal of its interest in Tullow Guyana, which includes the Orinduik license. Proceeds are

The Petroleum Commission, Ghana have updated their website with monthly production figures to June 2023, with Jubilee and TEN monthly figures equal to

Last week Tullow updated the market on process (or lack of) on their negotiations for the Gas Sales Agreement with the

Tullow has successfully brought on two production wells in the South East quadrant of the Jubilee field, with Gross Production from the Jubilee field now above 100,000 boepd. It is earlier than we had expected.  With two further wells expected to

More important than the rating movements, described below, was the purchase of shares by the CFO of Tullow, which was reported yesterday. This coincided with a non-executive also buying. The amounts are