RE: Today's Lesson3 Sep 2021 12:04
Yes I know its nothing to do with Harbour but we could think that Harbour Energy BoD have done their homework properly.
Does anyone remember this Tullow Oil announcement?
UPDATE 1 – Tullow Oil expects FY cashflow of $600 mln at $60/bbl oil
LONDON, July 14 (Reuters) – Africa-focused Tullow Oil expects a full-year operating cashflow of $600 million, steady from last year, if the oil price averages $60 a barrel for the rest of the year, it said on Wednesday.
If oil prices, currently at around $76 a barrel, average $70 for the remainder of the year, operating cashflow would go up by $50 million, it added.
Tullow, which refinanced it $2.3 billion debt pile this year to extend maturities, expects to invest $250 million, mainly on drilling in Ghana, and financing costs of $290 million.
Tullow, which has a market capitalisation of $1 billion, is guiding for output to stay steady at around 60,000 barrels per day.
It has hedged most of its output for the rest of the year at an average price of $67 a barrel and about half of its output at $72 next year with smaller amounts hedged into 2024.