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home / news releases / TUWLF - Tullow to exercise preemption rights in Kosmos / Occidental deal

TUWLF - Tullow to exercise preemption rights in Kosmos / Occidental deal

Tullow Oil Plc Ord
Monday, Kosmos (NYSE:KOS) received notice from Tullow (OTCPK:TUWLF) that they intend to exercise pre-emption rights in relation to the sale of Occidental's (OXY) assets in Ghana. A similar pre-emption transaction with PetroSA is ongoing. As a result of the two transactions, Kosmos (KOS) expects to receive $128m in proceeds, reduce production guidance for 2022 by 4kboe/d, and reduce capex guidance by $30m. Kosmos (KOS) has been buy-rated at Goldman for some time, and favorable timing of the Occidental (OXY) transaction should provide a tailwind to results in 2022.

For further details see:

Tullow to exercise preemption rights in Kosmos / Occidental deal
Stock Information
Company Name: Tullow Oil Plc Ord
Stock Symbol: TUWLF
Market: OTC
Website: tullowoil.com
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