FY17 production was 14.3 mboe/d (GMP FEe: 13.6 mboe/d, production guidance: 13.0-15.0 mboe/d). The strong production reflects good performance at Trym (+0.6 mboe/d). YE17 net cash was £75 mm, below our expectations of £95 mm. FY18 production guidance is 12-15 mboe/d (GMP FEe: 16 mboe/d). Production will be impacted by the partial shutdown of Trym and the permanent shutdown of Schooner in 3Q18 offsetting better performance at Tambar and Brage. Two new Tambar wells on stream in Febr
13 Feb 2018
FLASH: Larger resources, low 2018 production
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FLASH: Larger resources, low 2018 production
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
13 Feb 2018 -
Author:
Stephane Foucaud -
Pages:
2
FY17 production was 14.3 mboe/d (GMP FEe: 13.6 mboe/d, production guidance: 13.0-15.0 mboe/d). The strong production reflects good performance at Trym (+0.6 mboe/d). YE17 net cash was £75 mm, below our expectations of £95 mm. FY18 production guidance is 12-15 mboe/d (GMP FEe: 16 mboe/d). Production will be impacted by the partial shutdown of Trym and the permanent shutdown of Schooner in 3Q18 offsetting better performance at Tambar and Brage. Two new Tambar wells on stream in Febr