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Cairn Energy PLC (CNE.L)

CNE.L on London Stock Exchange

185.00GBp
16 Nov 2018
Change (% chg)

-9.60 (-4.93%)
Prev Close
194.60
Open
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Volume
3,103,309
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270.96
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Latest Key Developments (Source: Significant Developments)

Cairn Energy JV Partner Exercises Option To Operate SNE Field Development
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Cairn Energy PLC ::SENEGAL UPDATE.DEVELOPMENT, EXPLOITATION PLAN FOR SNE FIELD OFFSHORE SENEGAL SUBMITTED ON SCHEDULE TO SENEGAL GOVERNMENT BY JV WITH APPROVAL TARGETED LATER THIS YEAR.ANNOUNCES THAT JV PARTNER WOODSIDE ENERGY (SENEGAL) B.V. HAS EXERCISED ITS OPTION TO BECOME OPERATOR OF SNE FIELD DEVELOPMENT.  Full Article

Cairn Energy Says HY Revenue $182.4 Mln Vs $10.8 Mln Year Ago
Tuesday, 11 Sep 2018 

Sept 11 (Reuters) - Cairn Energy PLC ::SAYS REVENUE FROM SALE OF OIL AND GAS WAS US$172.1 MILLION TO JUNE 2018, AFTER ADJUSTING FOR HEDGING TRANSACTIONS.DEMAND FOR CARGOES CONTINUES TO BE STRONG AND PRICING RELATIVE TO BRENT IS IN LINE WITH EXPECTATIONS.FIRST PRODUCTION FROM DC4 IS EXPECTED IN EARLY 2019.SAYS HY REVENUE $182.4 MILLION VERSUS $10.8 MILLION YEAR AGO.  Full Article

Cairn Energy Updates On Ongoing Arbitration With Govt Of India Under UK-India Bilateral Investment Treaty
Monday, 9 Jul 2018 

July 9 (Reuters) - Cairn Energy PLC ::PROVIDING AN UPDATE ON ITS ONGOING ARBITRATION WITH GOVERNMENT OF INDIA UNDER UK-INDIA BILATERAL INVESTMENT TREATY.ALL OF WRITTEN SUBMISSIONS BY CAIRN AND GOVERNMENT OF INDIA HAVE NOW BEEN MADE.FINAL ARBITRATION HEARINGS FOR INDIA-UK BILATERAL INVESTMENT TREATY ARE SCHEDULED FOR TWO WEEKS COMMENCING ON 20 AUG 2018 IN HAGUE.IITD THAT IT HAS SOLD PART OF CAIRN'S SHAREHOLDING IN VL, REALISING AND SEIZING PROCEEDS OF US$216M.CAIRN'S RETAINED HOLDING IN VL IS NOW APPROXIMATELY 3%. IT IS POSSIBLE THAT IITD MAY MAKE FURTHER SALES.WILL WRITE DOWN CARRYING VALUE OF ITS INVESTMENT IN VL WHICH WILL RESULT IN AN IMPAIRMENT CHARGE AT HALF YEAR.SEEKING FULL RESTITUTION FOR LOSSES TOTALLING C.US$1.3 BILLION RESULTING FROM INDIA'S EXPROPRIATION OF ITS INVESTMENTS IN INDIA IN 2014.  Full Article

Cairn Energy Updates On 30 Pct-Owned Tethys Prospect
Monday, 26 Mar 2018 

March 26 (Reuters) - Cairn Energy Plc ::UPDATES ON PL 682, CONTAINING THE TETHYS PROSPECT, IN WHICH CAIRN HAS A 30% WORKING INTEREST‍​.MINOR OIL DISCOVERY NORTH-WEST OF THE GJØA FIELD IN THE NORTH SEA AT TETHYS PROSPECT.WELL 35/9-13 WAS TEMPORARILY PLUGGED AND ABANDONED DUE TO TECHNICAL PROBLEMS AT TETHYS PROSPECTS.PRELIMINARY ESTIMATES PLACE SIZE OF DISCOVERY BETWEEN 0.3 – 1 MILLION STANDARD CUBIC METRES (SM3) OF RECOVERABLE OIL AT TETHYS PROSPECT.  Full Article

Cairn Energy Posts FY Operating Loss From Continuing Operations Of $‍105.2​ Mln
Tuesday, 13 Mar 2018 

March 13 (Reuters) - Cairn Energy Plc ::FY OPERATING LOSS FROM CONTINUING OPERATIONS OF $‍105.2​ MILLION VERSUS LOSS OF $148.2 MILLION YEAR AGO.CAIRN ACHIEVED FIRST PRODUCTION FROM BOTH KRAKEN AND CATCHER DURING YEAR WITH BOTH FIELDS EXPECTED TO REACH PLATEAU BY H2 2018​.FY PROFIT BEFORE TAX FROM CONTINUING OPERATIONS OF $‍256.4​ MILLION VERSUS LOSS OF $151.5 MILLION YEAR AGO.‍EXPECTS JV TO SHORTLY SANCTION NOVA DEVELOPMENT IN NORWEGIAN NORTH SEA, WHERE FIRST OIL IS EXPECTED IN 2021​.‍GROUP CASH AT 31 DECEMBER 2017 US$86 MILLION.  Full Article

BW Offshore ‍says oil production started at Premier's Catcher field
Saturday, 23 Dec 2017 

Dec 23 (Reuters) - Bw Offshore Ltd ::‍FIRST OIL FROM CATCHER FPSO WAS SAFELY ACHIEVED ON 23 DECEMBER​.‍CATCHER DEVELOPMENT PROJECT IS NEARING COMPLETION ON TIME AND WELL WITHIN BUDGET​.‍BW CATCHER IS OWNED AND OPERATED BY BW OFFSHORE AND WILL COMMENCE A SEVEN-YEAR FIXED TERM CONTRACT, WITH EXTENSION OPTIONS OF UP TO 18 YEARS​.‍CATCHER FIELD PARTNERSHIP IS MADE UP OF PREMIER OIL (50%), CAIRN ENERGY (20%), MOL GROUP (20%) AND DYAS (10%)​.‍UNIT HAS AN OIL STORAGE CAPACITY OF 650,000 BARRELS AND A PROCESSING CAPACITY OF UP TO 60,000 BARRELS PER DAY. FPSO HAS A DESIGN LIFE OF 20 YEARS OF UNINTERRUPTED OPERATIONS​.  Full Article

EnQuest aborted sales talks for Kraken stake due to debt deadline: sources

LONDON EnQuest switched from plans to sell a stake in its flagship North Sea oilfield to borrowing money against it after two sets of sale talks had to be abandoned as a deadline for a debt repayment approached, industry and banking sources said.