BRIEF-Tullow Oil CFO: expects to reach 1-2x gearing ratio by 2025

BRIEF-Tullow Oil CFO: expects to reach 1-2x gearing ratio by 2025

Nov 25 (Reuters) – * TULLOW OIL CEO SAYS WE HAVE REDUCED STAFFING BY ABOUT 60%

* TULLOW OIL SAYS TARGETS $11/BBL OPEX THROUGH 2030

* TULLOW OIL CEO SAYS WILL GIVE 2021 PRODUCTION GUIDANCE IN JANUARY

* TULLOW OIL GHANA MD SAYS TARGETS TO INCREASE GAS OFFTAKE BEYOND 130 MMSCF/D FROM 2021

* TULLOW OIL GHANA MD SAYS JUBILEE FPSO MAINTENANCE SHUT-DOWN PLANNED IN NEXT 18 MONTHS

* TULLOW OIL GHANA MD SAYS 26 WELLS PLANNED AT JUBILEE FIELD UNTIL 2030, 23 WELLS AT TEN FIELD

* TULLOW OIL GHANA MD SAYS TARGETING 40% ULTIMATE RECOVERY IN JUBILEE FIELD

* TULLOW OIL CFO SAYS BUDGETS WITH NO LESS THAN $500 MILLION LIQUIDITY DRIVING NET DEBT DOWN TO $1-1.5 BILLION

* TULLOW OIL CFO SAYS PLANS TO SPEND $325 MILLION IN 2021, OF WHICH $180 MILLION IN GHANA

* TULLOW OIL CFO SAYS PLANS WITH AROUND $200 MILLION DECOM COSTS 2021/22

* TULLOW OIL CFO SAYS EXPECTS TO REACH 1-2X GEARING BY AROUND 2025* TULLOW OIL CFO SAYS DON’T EXPECT DEBT RULE BREACH AT YEAR-END, PREMATURE TO TALK ABOUT JANUARY DEBT TEST* TULLOW OIL CEO SAYS EXPECTS TO KEEP HEDGING PROGRAMME UNCHANGED UNDER NEW STRATEGY Further company coverage:

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