The company, which posted revenues of $2.2 billion, was hit by $1.7 billion in exploration write offs, took a $700 million impairment charge on producing assets, and a $500 million loss on a disposal.
Chief executive Aidan Heavey said Tullow’s response to a difficult 2014 is “reset our business and focus our capital expenditure on high-quality, low-cost oil production in West Africa.”
He
