FY17 production of 14.3 mboe/d with YE17 net cash of £75 mm had already been reported. FY17 cash flow from operations was £134 mm (GMP FEe: £98 mm). The difference with our forecasts mostly reflects a positive working capital movement of £20 mm as well as higher tax refund (£41 mm vs GMP FEe: £25 mm). The company reiterated its FY18 production guidance of 12-15 mboe/d with capex of £255 mm including £80 mm for exploration (pre-tax).
20 Mar 2018
FLASH: FY17 results
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
FLASH: FY17 results
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
20 Mar 2018 -
Author:
Stephane Foucaud -
Pages:
2
FY17 production of 14.3 mboe/d with YE17 net cash of £75 mm had already been reported. FY17 cash flow from operations was £134 mm (GMP FEe: £98 mm). The difference with our forecasts mostly reflects a positive working capital movement of £20 mm as well as higher tax refund (£41 mm vs GMP FEe: £25 mm). The company reiterated its FY18 production guidance of 12-15 mboe/d with capex of £255 mm including £80 mm for exploration (pre-tax).