The Motley Fool

Tullow Oil plc Unveils Revenue Of $2.6bn

oil.derrick

The shares of Tullow Oil (LSE: TLW) added 13p to 870p during early trade this morning after the oil group provided brief details of its forthcoming annual results.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

The FTSE 100 member, which has operations located throughout Africa and the North Sea, said its 2013 figures would show total revenue up 11% to $2.6bn and gross profit up 3% to $1.4bn.

Progress was supported by production levels advancing from 79,200 to 84,200 barrels of oil a day.

The blue chip added that operating cash flow was $1.9bn, capital expenditure was $1.8bn and year-end net debt was $1.9bn. The results for 2013 will also show exploration write-offs totalling $900m before tax.

Aidan Heavey, Tullow’s chief executive, said:

“We made good progress across the business over the past year despite facing challenges within the oil and gas sector… We have an exceptional exploration portfolio and will drill over 40 wells in the next 18 months in a wide-ranging campaign.

“2014 is full of opportunities for our business and the Board is confident that Tullow will have another strong and successful year.”

Prior to today, City experts were expecting Tullow’s upcoming annual results to show earnings of 42p per share.

Following this morning’s price movement, the shares may therefore trade on a P/E of 21.

“This Stock Could Be Like Buying Amazon in 1997”

I'm sure you'll agree that's quite the statement from Motley Fool Co-Founder Tom Gardner.

But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.

What's more, we firmly believe there's still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.

And right now, we're giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.

Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!

> Maynard does not own any share mentioned in this article.

Our 6 'Best Buys Now' Shares

Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.

So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we're offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our 'no quibbles' 30-day subscription fee refund guarantee.

Simply click below to discover how you can take advantage of this.