Tullow Oil (London: TLW)  recently announced it remains on track to meet its full-year production guidance of between 84,000 – 88,000 barrels of oil per day (bbl/d), after averaging 88,600 bbl/d in the first half. However, the company recently reported that it plugged and abandoned exploration wells in its French Guiana project after they came up dry.

In its most recent semiannual report, Tullow showed that total liabilities had jumped from $3.6 billion to $5.7 billion on a sequential basis, even as operating costs continued to rise.

There are just too many negatives stacked against the company for its share price to gain any traction, at least over the near term. Sell Tullow Oil.

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