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Tullow Oil FY17 Loss Narrows; Revenues, Volume Rise - Quick Facts

Tullow Oil Plc. (TLW.L) reported Wednesday that its fiscal 2017 loss before tax was $299 million, narrower than last year's loss of $908 million. Basic loss per share was 14.7 cents, compared to loss of 55.8 cents a year ago.

Total revenue for the year rose 36 percent to $1.72 billion from $1.27 billion in the prior year.

Sales volume grew 37 percent to 82,200 boepd from 59,900 boepd a year ago.

Realised oil price fell 5 percent from last year, while realised gas price increased 26 percent.

Gross profit for the year grew 49 percent to $815 million from $547 million in the year-ago period.

Looking ahead, Tullow Oil projects 2018 capital expenditure of $460 million, excluding Uganda expenditure of $110 million which will be repaid following completion of the Uganda farm-down.

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