Tullow in a dive as dry holes take toll

Friday 11 January 2013 18:37 EST

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Shares in Tullow Oil tumbled by 3 per cent after the FTSE 100 explorer announced a $670m (£417m) write-off for 2012 to cover the cost of dry holes and licence relinquishments.

In a trading statement ahead of its full-year results next month, Tullow said it expects a busy start to the year as its key oil producing field, the Jubilee field in offshore Ghana, ramps up to full capacity.

The company's shares fell 39p to 1,186p.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

Tullow in a dive as dry holes take toll

Join our commenting forum

Thank you for registering