Oil and gas company Tullow Oil plc (TLW.L) Wednesday, in an interim statement for the period from January 1 to May 8, said financials are in line with expectations.
The company further said full-year capital expenditure is expected to be in the region of $2 billion excluding the Spring acquisition cost of $372 million paid in January.
Looking forward, the firm said, with a strong balance sheet, robust production, planned portfolio activity to manage development capital and a set of industry-leading exploration basins and prospects, Tullow is well placed for the rest of the year and into 2014. It further said its exploration programme has significant high-impact wells across Africa, Norway and French Guiana and it is making progress towards securing the company's medium-term organic production in Ghana and Uganda.
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