Irish

Thursday 31 July 2014

Tullow Oil sells Schooner and Ketch gas field interest for £45m

Published 30/04/2014|07:42

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Tullow Oil is headed by founder Aidan Heavey. Photo: Mark Condren
Tullow Oil is headed by founder Aidan Heavey. Photo: Mark Condren

TULLOW Oil has sold its operating equity in the Schooner and Ketch gas fields in the North Sea for £45m plus a royalty on future developments.

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Tullow also said in an interim management statement this morning that its year-to-date revenues and cost of sales are in line with expectations.

The exploration company did not announce any new significant news but next month it will report results from three wells in Kenya and others in Ethiopia and Norway.

Davy Stockbrokers said that the two most significant wells are the Shimela-1 well in Ethiopia and the Tullow-operated Gotama well offshore Norway.

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