Tullow Oil reports strong first-half production, upgrades cash flow guidance

Tullow Oil plc reported strong first-half 2026 production and upgraded its cash flow guidance, according to a company statement. The company's working interest production reached 43.7 thousand barrels of oil equivalent per day, up from 40.6 kboepd in the same period last year. Revenue for the six months ended June 30 totaled $496 million, an increase from $411 million in the prior-year period.

The company's oil price realized $95.0 per barrel before hedging and $86.3 per barrel after hedging, compared to $71.4 and $69.7 per barrel respectively in 2025. Tullow completed its 2025-26 drilling campaign in September and expects full-year production to be at the high end of its 34-42 kboepd guidance range. Net debt stood at $1.4 billion at June 30, down from $1.6 billion a year earlier, and the cash gearing ratio improved to 1.9 times net debt to EBITDAX from 2.1 times.

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