Tullow Oil today forecast that its net debt would drop to $2.8 billion by the end of the year.
The oil exploration company also slightly raised its full-year free cash flow to $700m, helped by trimming its capital expenditure.
The company had previously said it might reach free cash flow of about $650m.
But in a trading update today it reduced its investment bill to to $430m for the year from $460m.
Tullow also narrowed its production forecast for the year to between 89,300 barrels of oil equivalent per day (boepd) and 93,300 boepd. It had previously put the range at 89,000-95,000 boepd.
The company's net debt had stood at $3.1 billion at the end of the first half of the year.
