3i Group Share News (III)

Footsie is expected to slip in early dealings after a three-digit fall on Wall Street last night.Tullow Oil expects annual production to average 58,000 barrels of oil equivalent per day (boepd) following a 16% drop in output during the first half. The company produced 59,000 barrels a day in the first six months of 2009, lower than last year's equivalent due to mixed results from infill wells in the UK, partly offset by higher production in Africa.Support services group Carillion said it remains on track to deliver 'materially enhanced' earnings for the full year after good performances across its divisions.The support services division continues to make the largest contribution to operating profit, the firm said.Oil and gas firm Melrose Resources is proceeding as expected at its oil and gas fields in Egypt, although recent government elections have held things up in Bulgaria. Production averaged approximately 16,000 barrels of oil equivalent per day (boepd) on a net entitlement basis versus current guidance of 15,700 boepd.Struggling private equity group 3i halved its debt in the three months to June, largely due to its £732m rights issue and realisation proceeds outweighing new investment as it stopped putting money into its portfolio companies. Net debt at end June was £961m, compared with £1.91bn at March 2009.