Tullow - comment

The Petroleum Commission for Ghana has updated its monthly stats giving investors an insight into Tullow’s monthly production numbers at TEN and Jubilee. The Jubilee figures are slightly misleading as the guidance for FY22 is 82,000 boepd, which includes a planned shutdown for two weeks in Q2. However, in the short term, the credit story is dominated by the potential merger of Tullow and Capricorn.

Graphs are Gross Production - Tullow’s share post completion of the Occidental stake is 39% and 55% at Jubilee and TEN respectively.