Soaring oil prices and production gains from acquistions saw half-year profits soar over 400 per cent at Tullow Oil.
The independent exploration company oposted hal-year pre tax profits of £74 million an increae of 427 per cent on last year.
The company had the benefit of the full inclusion of its Energy Africa assets for the full six months as well as a three-month contribution from the Schooner and Ketch North Sea gasfield.
Tullow said performance throughout the group is encouraging and the imminent exploration of wells in Uganda and Mauritania could have a high impact on production.
Tullow's chief executive, Aidan Heavey, said recent acquisitions have been successfully integrated and older assets are showing strong growth. He said the company has developed an exploration portfolio which combines lower risk 'snuggle' projects with exciting high impact opportunities.
"I believe that these attributes will continue to deliver long term growth and superior performance for the Group," he said.