1H17 production stood at 14,800 boe/d (GMP FEe: 14.3 mboe/d), (15.1 mboe/d from 01/01/2017 to 31/05/2017 previously reported). FY17 guidance maintained at 13.0-15.0 mboe/d. FY17 capex guidance consists of £45 mm for exploration and £90 mm for development and production (unchanged). 1H17 net cash generated from operating activities stood at £66.2 mm, well above our expectations of £41.2 mm. However the difference in our forecasts reflects a £22 mm positive change
26 Sep 2017
FLASH: 1H17 results
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FLASH: 1H17 results
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
26 Sep 2017 -
Author:
Stephane Foucaud -
Pages:
2
1H17 production stood at 14,800 boe/d (GMP FEe: 14.3 mboe/d), (15.1 mboe/d from 01/01/2017 to 31/05/2017 previously reported). FY17 guidance maintained at 13.0-15.0 mboe/d. FY17 capex guidance consists of £45 mm for exploration and £90 mm for development and production (unchanged). 1H17 net cash generated from operating activities stood at £66.2 mm, well above our expectations of £41.2 mm. However the difference in our forecasts reflects a £22 mm positive change