Greka released an operational update on Friday reporting on the progress of its drilling activities in China. The company had drilled 13 of its 30 well lifabric programme for Green Dragon by the end of 2015 leaving significant further work for the company to execute over 2016. Despite this, activities in H1 2016 are expected to be subdued and the company is looking to cut costs to help preserve margins. We have adjusted 2015 and 2016 forecasts down accordingly (including a negative translatio
08 Feb 2016
Operational update
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Operational update
Greka Drilling (GDL:LON) | 0 0 6.0% | Mkt Cap: 10.7m
- Published:
08 Feb 2016 -
Author:
Arden Partners Research Team -
Pages:
3
Greka released an operational update on Friday reporting on the progress of its drilling activities in China. The company had drilled 13 of its 30 well lifabric programme for Green Dragon by the end of 2015 leaving significant further work for the company to execute over 2016. Despite this, activities in H1 2016 are expected to be subdued and the company is looking to cut costs to help preserve margins. We have adjusted 2015 and 2016 forecasts down accordingly (including a negative translatio