LONDON (dpa-AFX) - Tullow Oil plc (TLW.L) said, for full year 2019, free cash flow is forecast to be around $350 million. The Group continues to focus on debt reduction, and net debt at the end of 2019 is expected to be around $2.8 billion.
Full year 2019 Group oil production, including production-equivalent insurance payments, is forecast to average around 87,000 bopd. This is slightly below guidance primarily due to Ghana production performance.
Paul Mcdade, CEO, said: 'Ghana production has not met our expectations this year and we are working closely with our Joint Venture Partners to ensure that both fields perform to their potential.'
The Group will publish a trading statement on 15 January 2020 and full year results for 2019 will be announced on 12 February 2020.
Copyright RTT News/dpa-AFX