London-listed Tullow Oil’s share price shot up by 22.5% after the independent revealed late last week that its available debt capacity will remain unchanged at $3.7 billion.
Tullow announced on 2 October that its banks had completed a routine six-monthly, reserve based lending (RBL) redetermination process and decided to leave things unchanged.
The RBL issue was weighing heavily on the company’s shares, so its removal saw Tullow’s stock price rise from 169.1
