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Tullow Oil Completes Refinancing and Ghana Licence Extensions

Tullow Oil logoTullow Oil
Sig3.45Sen+2.65Env0.00Soc0.00Gov+2.05

Tullow Oil has completed a refinancing that replaces an imminent bond maturity wall with later-dated instruments, extending its financial runway and improving free cash flow. The company also secured Ghana parliamentary approval to extend petroleum agreements for its main complexes and moved to acquire the floating production vessel for the smaller project, reshaping its cost structure.

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