2021 Full Year Results
TULLOW
Significant free cash flow upside in current oil price environment
Material cash flow drivers year-to-date
•
•
$89/bbl average realised oil price in January and
February
positive impact from high oil price at the start of the
year
$75m Uganda FID consideration triggered
material cash flow contribution secured in February
$76m payment following Norwegian arbitral
decision
in relation to the purchase of Spring Energy in 2013
c. $100m free cash flow guidance
at $75/bbl maintained
Upside exposure from sustained
constructive oil price environment
2022 free cash flow oil price sensitivities ($m)
($m)
200
150
100
50
c.100
c.60
c.40
75
85
95
Oil price ($/bbl)
2022 Group capex allocation ($m)
Jubilee
C. 170
TEN
c. 100
Non-op
c. 30
Exploration
c.45
350
Kenya
c. 5
Tullow Oil plc | 2021 Full Year Results
Slide 11View entire presentation