Tullow revenues rise to $1.15bn

Tullow Oil has reported record half-year revenues of $1.15bn (€915.6m), a rise of nearly 8.5% on the same period last year.

In a brief trading and operational update covering the first six months of 2012, the Irish-founded oil and gas exploration company said the proceeds from the farm-down of its assets in Uganda have “transformed” its balance sheet.

The company said it was “well-placed” for continued success over the remainder of the year.