Heavey Hitter: Tullow Oil a 2013 Winner

Aiden Heavey is a hard working man. His company, Tullow Oil, has steadily expanded since its creation in 1985 to become one of the leading global oil and gas exploration companies.

The business now boasts 55 oil and gas licences in 15 African nations, as well as in other locations around the globe. The entrepreneurial attitude of its founder, alongside the knowledge learned from his experiences in accounting and engineering, have led to the development of an oil company which quite clearly has had success in its niche corner of the market.

Where the company differs from other businesses is its focus on Africa as a source of the prized commodity of oil. By engaging with the relatively non-commercial continent, Tullow Oil has emerged as a major player in the industry, a remarkable feat given the competition it has.

So why is the company a winner in 2013 particularly? The solid nature of its numbers and the rate of its expansion are the two main reasons for its present success. Currently, Tullow Oil enjoys a share price of £1,225.00 and has revenue worth approximately $2.3 billion. The strong foundation of its African roots in Senegal and Ghana has led to the creation of new sites in Uganda, Tanzania and Kenya, which are all thriving.

Of course, its CEO seems to have had remarkably good fortune with the company. Heavey’s relative lack of knowledge in comparison to his competitors did not daunt him; he used it to spur him on. When he heard of the oil fields being left untapped in Africa, especially in Senegal, he took a chance that could have led to failure. His company’s 2013 results prove that it was a good decision. For an Irish man with no experience in oil and no concept of how African exploration fields worked, it is definitely an impressive tale.

This, and the predictions for Tullow Oil’s future success, is why the company and its founder are being hailed as winners for 2013. Tullow Oil has definite aspirations to expand, and its ongoing developments have only cemented the company’s standing in both the oil industry and the financial market. It is definitely one to keep an eye on in the latter half of 2013, if its first half-yearly results released recently in London are anything to go by.