图洛石油公司发展历程及其关键指标分析

Analysis on the development process and key indexes of Tullow Oil

图洛石油公司由于在非洲加纳、乌干达和肯尼亚三国的勘探获得巨大成功,近年来在业界广受关注。图洛公司的发展历程可概括为起步、加速、扩张和防御4个阶段。2020年,公司资产为-2.1亿美元,经营形势异常严峻。如果不含非洲三国,该公司在全球的作业者探井成功率远低于其非作业者探井成功率,在其他地区的勘探不甚成功。即使是在加纳、乌干达和肯尼亚,图洛公司的桶油发现成本也明显高于业内平均水平,单位投入产出偏少。自身开发资产少,自我造血能力差,全球范围内勘探效果不如预期,未能形成良性接替,发展后劲不足等,是图洛公司逐渐走下坡路的主要原因。

Tullow Oil has gained a lot of attention in recent years due to its exploration successes in Ghana,Uganda,and Kenya. Its development history can be summarized into such four stages as start-up,rapid growth,expansion,and defense.In 2020,the company was at a very difficult stage with extremely severe business situation,owning-210 million USD in assets.Excluding the three African countries,the company’s global success rate of exploration well for operators would be much lower than its non-operator success rate,and exploration elsewhere has been less successful. Even in Ghana,Uganda,and Kenya,each barrel of oil cost to discovery of Tullow Oil is significantly higher than the industry average,with lower output per unit of input. The main reasons for Tullow Oil’s gradual decline are less own development assets,poor self-supporting ability,unexpected global exploration results,unhealthy asset echelon,and lack of momentum for development.