FY 17 preliminary figures ahead of consensus expectations. Operating loss was $105m and net profit from continuing operations came in at a positive $256m (vs. net loss of $152m in 2016). Cash balance should be $86m at the end of 2017. 2018 outlook updated: Production from Catcher and Kraken is expected to be around 17.0-20.0kbpd. Full capacity production should be achieved by H2 18 with peak net production to Cairn of 25.0kpbd. Capex is expected to be around $235m ($140m should be spent on th
13 Mar 2018
Drop the long-term growth card?
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Drop the long-term growth card?
Capricorn Energy PLC (CNE:LON) | 176 17.3 5.9% | Mkt Cap: 162.0m
- Published:
13 Mar 2018 -
Author:
Marzio Foa -
Pages:
2
FY 17 preliminary figures ahead of consensus expectations. Operating loss was $105m and net profit from continuing operations came in at a positive $256m (vs. net loss of $152m in 2016). Cash balance should be $86m at the end of 2017. 2018 outlook updated: Production from Catcher and Kraken is expected to be around 17.0-20.0kbpd. Full capacity production should be achieved by H2 18 with peak net production to Cairn of 25.0kpbd. Capex is expected to be around $235m ($140m should be spent on th