U.K.-based, West Africa-focused Tullow Oil Plc (OTC:TUWOY) kept its annual production guidance untouched after what the company called a robust first-half performance that met its expectations. Meanwhile, the company continues to move ahead with its agreed merger with its rival, Capricorn Energy PLC, which will lead to the creation of an Africa-focused energy firm with a market value of more than £1.4 billion.
With lower oil prices last year, Tullow had free cash flow of roughly $245 million, augmented by the sale of its assets in Uganda.
