The London-quoted player agreed an amendment to the financial covenant on its reserve based lend (RBL) and corporate borrowing facility “to address the risk of any potential covenant breach during a period of oil price volatility and investment in production and development assets in West Africa”, it said.
Also completing its six-month RBL redetermination process, Tullow said “the quality of (its) asset portfolio supported a $200 million increase in lenders commitments”.
