In this short note, we update our oil price assumptions. Given that share prices are now looking more reasonable relative to our RENAVs, we downgrade Tullow Oil and Faroe Petroleum to HOLD. We reiterate our BUY recommendations on Cairn Energy and Trinity E&P, and remain with our HOLD recommendation on EnQuest.

24 Jan 2018
UK E&P
Capricorn Energy PLC (CNE:LON), 238 | EnQuest PLC (ENQ:LON), 11.8 | Faroe Petroleum (FPM:LON), 0 | Tullow Oil plc (TLW:LON), 14.1

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UK E&P
Capricorn Energy PLC (CNE:LON), 238 | EnQuest PLC (ENQ:LON), 11.8 | Faroe Petroleum (FPM:LON), 0 | Tullow Oil plc (TLW:LON), 14.1
- Published:
24 Jan 2018 -
Author:
Jessica Saadat -
Pages:
15 -
In this short note, we update our oil price assumptions. Given that share prices are now looking more reasonable relative to our RENAVs, we downgrade Tullow Oil and Faroe Petroleum to HOLD. We reiterate our BUY recommendations on Cairn Energy and Trinity E&P, and remain with our HOLD recommendation on EnQuest.