Tullow Oil agrees preliminary terms for $120m Kenyan asset sale
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 16 2025
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Source: Yahoo Finance
Tullow Oil's Divestment Agreement: Tullow Oil has agreed to sell its Kenyan subsidiary, Tullow Kenya, to Gulf Energy for at least $120 million, with a structured payment plan over several years and potential future royalties.
Impact on Financial Position: The transaction is expected to enhance Tullow's equity and leverage metrics, aiding in the company's deleveraging efforts, alongside a recent $300 million asset sale in Gabon.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
