Tullow Oil Posts Positive Free Cash Flow
Tullow Oil reported positive first-half free cash flow driven by strong Ghana output and higher oil prices. Revenue rose to 496 million dollars from 411 million dollars. Full-year production is expected at the top end of guidance.
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TULLOW OIL PLC swung to a positive free cash flow of $4 million for the first half of the year, up from negative $188 million during the same period previously, per Monday morning reporting. The turnaround was driven by strong output from Ghana, outperforming wells, and higher oil prices. Higher energy prices stem from the ongoing conflict involving Iran.
