Tullow Oil Posts Strong First-Half Results on Back of Ghana Operations
Tullow Oil reported strong first-half results for 2026, driven by high uptime and output from its Ghanaian operations. Group working interest production rose to 43.7 kboepd, while revenue increased to $496 million on realised oil prices of $95 per barrel before hedging.
The company also strengthened its resource base, lifting 2P reserves to 121.7 mmboe and achieving a reserves replacement ratio of over 380% through successful drilling, licence extensions, and strong well performance.
Tullow's management now expects 2026 production at the top end of guidance, with full-year free cash flow expectations upgraded to $170-250 million. The company is advancing a 2027-28 drilling campaign and has secured ratification for licence extensions in Ghana until 2040.