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7 October 2020 – Tullow Oil plc (Tullow) is pleased to announce that it has completed the bi-annual redetermination of its RBL credit facility with $1.8 billion of debt capacity approved by the lending syndicate. As a result, the Group retains c.$500 million liquidity headroom of undrawn facilities and free cash at the start of the fourth quarter of the year, which the Board deems appropriate given Tullow’s capital commitments.
At Tullow’s request, the next redetermination will commence following Tullow’s Capital Markets Day, which is scheduled for 25 November 2020, and is expected to be completed in January 2021.
For further information contact:
| Tullow Oil plc (London) |
Camarco (London) |
|---|---|
|
(+44) 20 3249 9000 |
(+44) 20 3781 9244 |
Notes to Editors
Tullow Oil plc
Tullow is an independent oil & gas, exploration and production group, quoted on the London and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 30 licences across eight countries. In March 2021, Tullow committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030. For further information, please refer to our website at www.tullowoil.com.
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Website: www.Tullowoil.com