Tullow Oil secures commitments for extension of $250 million revolving credit facility

Tullow Oil has secured lender approval to extend the maturity of its $250 million Revolving Credit Facility (RCF) to June 2025. This move aligns with the company’s goal of reducing financing costs and maintaining liquidity headroom.

Tullow’s Chief Financial Officer, Richard Miller, described the extension as a key milestone in its refinancing strategy, emphasizing the strong lender confidence demonstrated by the oversubscription of the facility. He expressed optimism about addressing remaining debt maturities.

Tullow Oil focuses on West African operations in Ghana, Gabon, and Côte d’Ivoire, with additional resources in Kenya. The company is committed to achieving Net Zero Scope 1 and 2 emissions by 2030 and advancing its Shared Prosperity strategy to deliver lasting socio-economic benefits to host nations.