Tullow Oil PLC (TLW.L)
5 Feb 2016
** Tullow Oil down c.4 pct, one of the top FTSE midcap losers after Nomura cuts PT to 150p from 185p; reiterates "reduce" rating
* Despite cheap oil, Tullow expects to make profit from the field
* Floating production vessel to pump oil from Ghana deepwater field
LONDON, Jan 13 Mid-sized oil producing companies are proving more resilient against weak oil prices than expected as they are able to slash more costs, allowing them to press ahead with projects that are set to add even more barrels to a global supply glut.
* Ugandan still pushing for earlier production date (Adds Ugandan official comment)
* Graphic: Oil companies debt vs oil price http://link.reuters.com/quh65w