Market Reaction: neutral. Production is slightly ahead of our numbers and Net Debt is lower than we expected. The sail away date of the FPF-1 vessel now looks to be a few weeks behind the previous indications (late June/early July) with probably knock-on effect to the end of September first oil. With improving financials and Stella start-up in about three months, this is a story we continue liking.
11 Jul 2016
2Q16 OPERATIONS UPDATE: GOOD PRODUCTION AND LOWER NET DEBT, STELLA FPF-1 SAIL AWAY TWO NOW WEEKS AWAY
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2Q16 OPERATIONS UPDATE: GOOD PRODUCTION AND LOWER NET DEBT, STELLA FPF-1 SAIL AWAY TWO NOW WEEKS AWAY
Market Reaction: neutral. Production is slightly ahead of our numbers and Net Debt is lower than we expected. The sail away date of the FPF-1 vessel now looks to be a few weeks behind the previous indications (late June/early July) with probably knock-on effect to the end of September first oil. With improving financials and Stella start-up in about three months, this is a story we continue liking.