Tullow to Take $1.5 Billion Charge After Calamitous Year
- Company cites cut in TEN reserves, lower oil-price assumption
- Still, 2020 output guidance is kept at 70k-80k barrels a day
Photographer: Nicky Loh/Bloomberg
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Tullow Oil Plc expects to take a charge of $1.5 billion when it reports 2019 results, capping a terrible year for the debt-strapped company.