- Earnings constrained by impairment and hedging
- Borrowings down just 4 per cent on 2021
Tullow Oil (TLW) had a wild ride in 2022, finding a solution to its debt load through a merger with Capricorn Energy (CNE) that fell through after investor protest. Despite that drama, Tullow is back where it started, in debt terms, with borrowings down just 4 per cent from the end of 2021 to $2.37bn (£2bn).