(Reuters, 2.Jan.2020) — Shares of Tullow Oil dropped by nearly a fifth on Thursday as the Africa-focused oil producer’s update on the commercial viability of its new well offshore Guyana disappointed investors. Tullow said the Carapa well in the Kanuku offshore block contains oil with less than 1% sulphur content […]
Tag: Carapa
Tullow Slumps On Guyana Oil Find News
(Bloomberg, 2.Jan.2020) — Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell as much as 20%. The independent oil producer’s first discovery of the new year comes after a calamitous 2019 […]
Tullow Announces Carapa-1 Well Result
(Tullow, 2.Jan.2020) — Tullow Oil plc announces that the Carapa-1 exploration well, drilled on the Kanuku licence offshore Guyana, has encountered approximately four metres of net oil pay based on preliminary interpretation, and has extended the prolific Cretaceous oil play into the Group’s Guyana acreage. Related Story: Tullow Oil plc […]