Tullow Oil (TLW)

Down
Share Price:
46.33p
Market Cap:
659.53m
Change Today:
-1.06p
Sector:
Energy Producers

Tullow says Suriname well encountered only minor oil shows

By Michele Maatouk

Date: Thursday 18 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Tullow Oil said on Thursday that the Goliathberg-Voltzberg North exploration well offshore Suriname has reached total depth and encountered good quality reservoir but only minor oil shows.
The FTSE 250 oil and gas exploration and production group said the well was drilled to a total depth of 5,060 metres in 1,856 metres of water and will now be plugged and abandoned.

"Tullow and its partners will then assess the data gathered from the well and carefully consider next steps," it said.

Tullow is the operator of Block 47 with a 50% stake, while Petroandina Resources holds 30% and Ratio Suriname the remaining 20%.

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Tullow Oil Market Data

Currency UK Pounds
Price 46.33p
Change Today -1.06p
52 Week High 60.82p
52 Week Low 14.30p
Volume 9,556,694
Shares Issued 1,423.56m
Market Cap 659.53m

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