UK's Tullow Oil in refinancing talks, expects 2025 output at lower end of range

(Reuters) -Tullow Oil said on Friday it is in talks with bondholders, commodity traders and other funding sources to refinance its capital, while projecting 2025 production at the lower end of its 40,000-45,000 barrels of oil equivalent per day (boepd) range. 

Tullow also said next year's output could fall to 34,000-42,000 boepd as it grapples with natural declines in its existing wells.

The company, which operates in countries such as Ghana, Gabon, and Côte d’Ivoire, said it is exploring funding options with some of its creditors, given risks related to its business performance, market uncertainty and its May 2026 bond maturity.

It added that it expects 2025 year-end net debt of about $1.2 billion, up from its earlier forecast of $1.1 billion.

(Reporting by Ankita Bora in Bengaluru; Editing by Sonia Cheema)