LONDON (Reuters) - Tullow Oil (L:TLW) reported a half-year loss of $1.3 billion on Wednesday, compared with a $103 million (79.49 million pounds) profit last year, on the back of a previously flagged $1.4 billion impairment due to the group lowering its oil price outlook.
Tullow, with a market cap of $361 as of Wednesday and $3 billion in debt, said it was evaluating "various refinancing alternatives with respect to the Group's capital structure" and expected to hold to a capital markets day before year-end.
"Cash flow projections forecast a potential liquidity shortfall during the 18-month period relevant to the Liquidity Forecast Test in respect of the January 2021 (reserve-based lending) re-determination due to the maturity of the $650 million Senior Notes due in April 2022," it said.