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Prices & Quotes - UK Markets - Cairn Energy (CNE)

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Share Price:
Down 164.00p
Change Today:
-1.70p
Market Cap:
818.80m
Sector:
Oil & Gas Producers

Cairn Energy reports FY production at Catcher and Kraken fields in line with guidance

By Iain Gilbert

Date: Wednesday 20 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Oil and gas exploration and development Cairn Energy said on Wednesday that full-year oil production from its Catcher and Kraken fields was in line with guidance.
Combined 2020 oil production net to Cairn from the Catcher and Kraken fields averaged just over 21,000 barrels of oil per day, while 2021 oil production was estimated to be between 16,000 and 19,000 barrels per day.

The FTSE 250-listed firm highlighted that both fields were expected to enter into their natural decline phase during 2021, making its focus arresting the underlying decline rate and potentially extending field life by maximising FPSO performance efficiency, process optimisation and maturing further drilling opportunities.

Oil and gas sales revenue was $324.0m for the year, at an average realised price of $42.23 per barrel of oil equivalent, before hedging gains of $7.27 per barrel.

Chief executive Simon Thomson said: "Cairn enters 2021 with balance sheet strength and financial flexibility. The sale of the company's interests in Senegal and return of capital to shareholders demonstrates continued strategic delivery and differentiation.

"The company is well-positioned to be opportunistic in the current market as it seeks to diversify and grow its production base."

As of 0905 GMT, Cairn shares were up 0.053% at 190.20p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Cairn Energy Market Data

Currency UK Pounds
Price 164.00p
Change Today -1.70p
52 Week High 212.74p
52 Week Low 88.94p
Volume 1,354,135
Shares Issued 499.27m
Market Cap 818.80m
Beta 0.06

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 5
Sell 1
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cairn Energy Dividends

  Latest Previous
  Special Interim
Ex-Div 11-Jan-21 n/a
Paid 25-Jan-21 n/a
Amount 32.00p 0.000¢

Trades for 09-Apr-2021

Time Volume / Share Price
16:35 486,463 @ 164.00p
16:29 96 @ 164.30p
16:29 750 @ 164.30p
16:29 684 @ 164.50p
16:29 1 @ 164.40p

Cairn Energy Key Personnel

CEO Simon Thomson
CFO James Smith