YE17 net cash stood at US$56 mm (GMP FEe: US$4 mm). At YE17, remaining cash outflows in respect of 2017 activities are expected to be c.US$35 mm. The company forecasts FY18 production at 17-20 mboe/d (GMP FEe: 16.5 mbbl/d) with capex of US$200 mm including US$125 mm for Kraken and Catcher. This excludes US$35 mm cash outflows associated with FY17 capex. Development sanction for the Skarfjell discovery is expected in 1H18 with first oil targeted in 2021 and plateau production of 50,000 bbl/d (
23 Jan 2018
FLASH: Operating update and outlook in line
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FLASH: Operating update and outlook in line
Capricorn Energy PLC (CNE:LON) | 172 8.9 3.1% | Mkt Cap: 157.8m
- Published:
23 Jan 2018 -
Author:
Stephane Foucaud -
Pages:
2
YE17 net cash stood at US$56 mm (GMP FEe: US$4 mm). At YE17, remaining cash outflows in respect of 2017 activities are expected to be c.US$35 mm. The company forecasts FY18 production at 17-20 mboe/d (GMP FEe: 16.5 mbbl/d) with capex of US$200 mm including US$125 mm for Kraken and Catcher. This excludes US$35 mm cash outflows associated with FY17 capex. Development sanction for the Skarfjell discovery is expected in 1H18 with first oil targeted in 2021 and plateau production of 50,000 bbl/d (