Shares in Tullow Oil took a tumble on Monday afternoon after the group announced that it has plugged and abandoned a well in Guyana due to safety concerns.
The Jaguar-1 well in the Georgetown Block, offshore Guyana in which it has a 30% interest, drilled to a depth of 4,876 metres without reaching the primary Late Cretaceous objective.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Review: Trisara, Phuket – a feast for the senses in ThailandTravel Stay at Trisara resort on Phuket island in Thailand for the top-notch food and spa
-
Expecting an inheritance? Don’t – only a fifth of Boomers plan to part with their cashHigher priorities are travel and spending time with loved ones, with even those on the highest household incomes shunning inheritances
