LONDON (dpa-AFX) - Tullow Oil Plc. (TLW.L) reported that its profit attributable to owners of the company for the six months ended 30 June 2019 increased to $103.2 million or 7.1 cents per share from $53.9 million or 3.7 cents per share last year.
Profit from continuing activities before tax grew to $268.4 million from $150.5 million last year.
Sales revenue for the period declined to $872.3 million from $905.1 million in the prior year.
The Board has approved an interim dividend of 2.35 cents/share which will be paid on 4 October 2019.
Full year 2019 oil production guidance is revised down to 89-93,000 bopd reflecting delays in TEN well completion.
Tullow's West Africa oil production averaged 88,700 bopd in the first half of 2019. This includes 2,700 bopd of production-equivalent insurance payments relating to the Jubilee field which have been realised under Tullow's Corporate Business Interruption insurance policy. First half 2019 working interest gas production averaged 300 boepd.
Copyright RTT News/dpa-AFX
© 2019 AFX News
