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Cairn Energy PLC (CNE.L)

CNE.L on London Stock Exchange

141.70GBp
25 Sep 2020
Change (% chg)

16.10 (+12.82%)
Prev Close
125.60
Open
128.80
Day's High
142.00
Day's Low
127.00
Volume
1,345,391
Avg. Vol
1,006,324
52-wk High
210.00
52-wk Low
57.35

Latest Key Developments (Source: Significant Developments)

Cairn Energy Says Chairman Ian Tyler To Retire From Board
Thursday, 7 May 2020 

May 7 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC - CHAIRMAN SUCCESSION.CAIRN ENERGY PLC - CHAIRMAN, IAN TYLER, HAS INDICATED TO BOARD HIS INTENTION TO RETIRE FROM BOARD.CAIRN ENERGY PLC - BOARD WILL BEGIN A THOROUGH AND COMPREHENSIVE PROCESS TO IDENTIFY AND APPOINT A SUCCESSOR.  Full Article

Cairn Energy Says Ehecatl-1 Exploration Well Did Not Find Reservoired Hydrocarbons
Tuesday, 5 May 2020 

May 5 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC - MEXICO DRILLING UPDATE.CAIRN ENERGY PLC - OPERATIONS HAVE BEEN COMPLETED ON ENI OPERATED EHECATL-1 EXPLORATION WELL ON BLOCK 7.CAIRN ENERGY PLC - EXPLORATION TARGET OF WELL WAS TO PROVE HYDROCARBONS IN LOWER MIOCENE.CAIRN ENERGY PLC - EHECATL-1 EXPLORATION WELL DID NOT FIND RESERVOIRED HYDROCARBONS AND IT HAS NOW BEEN PERMANENTLY PLUGGED AND ABANDONED.  Full Article

Cairn Energy Sees 2020 Exploration Capex Down To $100 Mln
Friday, 27 Mar 2020 

March 27 (Reuters) - Cairn Energy PLC ::OPERATIONAL UPDATE.SIGNIFICANT REDUCTIONS & DEFERRALS BEEN IDENTIFIED FOR 2020 PROGRAMME, REPRESENTING OVERALL 23% REDUCTION IN CAPITAL EXPENDITURE FOR YEAR.THESE CHANGES ARE NOT EXPECTED TO IMPACT OUR PREVIOUSLY DISCLOSED PRODUCTION AND PRODUCTION COST GUIDANCE FOR 2020.PLANNED 2020 CAPITAL EXPENDITURE ON UK PRODUCING ASSETS IS EXPECTED TO BE BELOW US$45 MILLION, REDUCED FROM ORIGINAL FORECAST OF US$65 MILLION.EXPECTATION IS THAT NET CAPITAL EXPENDITURE ON SANGOMAR IN 2020 WILL BE BELOW US$330 MILLION, REDUCED FROM ORIGINAL FORECAST OF US$400 MILLION.CAPITAL EXPENDITURE ON EXPLORATION IN 2020 SEEN TO BE ABOUT US$100MILLION, FROM ORIGINAL FORECAST OF US$150 MILLION IN EXPLORATION.CASHFLOWS FROM UK PRODUCTION, WHICH IS EXPECTED TO BE IN RANGE OF 19,000-23,000 BOPD IN 2020.  Full Article

Cairn Energy Says FY Net Oil Production Averaged About 23,000 Bopd
Tuesday, 10 Mar 2020 

March 10 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC SAYS FY OIL AND GAS SALES REVENUE $504M (2018: $396M), AVERAGE REALISED OIL PRICE US$65.70/BBL; AVERAGE PRODUCTION COST US$17.4/BOE.CAIRN ENERGY PLC SAYS FY NET OIL PRODUCTION AVERAGED ABOUT 23,000 BOPD, AT UPPER END OF GUIDANCE (2018: 17,500 BOPD).CAIRN ENERGY PLC SAYS FY OPERATING PROFIT US$155M (2018: OPERATING LOSS US$129M).CAIRN ENERGY PLC - ESTIMATED 2020 NET PRODUCTION OF 19,000 TO 23,000 BOPD; TARGETING AVERAGE PRODUCTION COST Full Article

Cairn Energy Sees FY Oil Production, Net To Co, For 2020 Is Estimated To Be 19,000-23,000Bopd
Tuesday, 21 Jan 2020 

Jan 21 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC - OPERATIONAL UPDATE.CAIRN ENERGY PLC - 2019 OIL AND GAS SALES REVENUE WAS US$504M AT AN AVERAGE REALISED PRICE OF US64.52/BOE (BEFORE HEDGING GAINS OF US$1.39/BOE).CAIRN ENERGY PLC - AVERAGE PRODUCTION COST WAS US$17.5 PER BOE.CAIRN ENERGY PLC - FULL YEAR OIL PRODUCTION, NET TO CAIRN, FOR 2020 IS ESTIMATED TO BE 19,000 TO 23,000BOPD.CAIRN ENERGY PLC - JV HAS TAKEN FID OF SANGOMAR FIELD DEVELOPMENT FOLLOWING RECEIPT OF 25-YEAR EXPLOITATION AUTHORISATION FROM GOVERNMENT OF SENEGAL.CAIRN ENERGY PLC - PHASE 1 OF DEVELOPMENT WILL TARGET ESTIMATED 2P RECOVERABLE OIL RESERVES OF 231MMBBLS IN SENEGAL.CAIRN ENERGY - OVER LIFE OF FIELD, TOTAL RECOVERABLE OIL RESOURCES ESTIMATED ABOUT 500MMBBLS IN SENEGAL PROJECT.CAIRN ENERGY-DEVELOPMENT OF 2 CATCHER AREA SATELLITE OIL FIELDS IS PROGRESSING TO PLAN AND SCHEDULED TO BE DRILLED MID-2020.CAIRN ENERGY PLC - INDIA ARBITRAL TRIBUNAL HAS INDICATED THAT IT EXPECTS TO BE IN A POSITION TO ISSUE AWARD IN SUMMER OF 2020.CAIRN ENERGY PLC - TO DATE, CAIRN HAS HEDGED 2.8M BARRELS OF 2020 OIL PRODUCTION.CAIRN ENERGY PLC - CAPITAL EXPENDITURE FOR 2020 IS CURRENTLY FORECAST AT US$595M.CAIRN ENERGY - 2 WELLS PLANNED TO BE DRILLED ON WESTERN FLANK OF KRAKEN FIELD AND BE TIED IN AND ONSTREAM BEFORE YEAR END.CAIRN ENERGY PLC - COMBINED OIL PRODUCTION NET TO CAIRN FROM CATCHER AND KRAKEN FIELDS IN 2019 AVERAGED 23,000 BOPD.  Full Article

Cairn Energy Plc Announces Disposal Of Capricorn Norge AS
Wednesday, 27 Nov 2019 

Nov 27 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC - DISPOSAL OF CAPRICORN NORGE AS.CAIRN ENERGY PLC - ENTERED INTO AN AGREEMENT TO DISPOSE OF ENTIRE SHARE CAPITAL OF CAPRICORN NORGE AS.CAIRN ENERGY PLC - WITH EFFECT FROM 1 JANUARY 2020, SOLVEIG GAS NORWAY AS SHALL ACQUIRE ALL OF SHARES IN CAPRICORN NORGE AS BY PAYING US$100 MILLION.CAIRN ENERGY - AFTER DISPOSAL CO WILL REDUCE ITS COMMITTED EXPLORATION AND DEVELOPMENT CAPITAL EXPENDITURE BY US$100M.CAIRN ENERGY PLC - DISPOSAL IS EXPECTED TO COMPLETE IN EARLY 2020.CAIRN ENERGY PLC - CAIRN WILL USE PROCEEDS OF DISPOSAL TO FUND ITS ONGOING BUSINESS.  Full Article

Kames Capital Discloses 3.92% Stake In Cairn Energy As Of Sept 24 Vs Prior Stake Of 4.98% - Filing
Friday, 27 Sep 2019 

Sept 27 (Reuters) - Cairn Energy PLC ::KAMES CAPITAL PLC DISCLOSES 3.92% STAKE IN CAIRN ENERGY PLC AS OF SEPT 24 VERSUS PRIOR STAKE OF 4.98% - FILING.  Full Article

Cairn Energy Sees Full-Year Oil Production Guidance Of 21,000 - 23,000 Bopd From 19,000-22,000 Bopd
Tuesday, 10 Sep 2019 

Sept 10 (Reuters) - Cairn Energy PLC ::HALF-YEAR REPORT.HY COMBINED NET OIL AND GAS PRODUCTION AHEAD OF 2019 GUIDANCE AT ABOUT 23,700 BOEPD (+15% V PREVIOUS SIX MONTHS).HY OIL AND GAS SALES REVENUE US$257M, AVERAGE REALISED PRICE US$68/BOE; AVERAGE PRODUCTION COST US$17/BOE.CAIRN ENERGY PLC EXPECTS FULL YEAR OIL PRODUCTION GUIDANCE OF 21,000 - 23,000 BOPD FROM 19,000-22,000 BOPD.EXPECTS FY AVERAGE PRODUCTION COST REDUCED FROM US$20/BOE TO ABOUT US$18/BOE.EXPECTS FULL YEAR FORECAST CAPITAL EXPENDITURE US$295M.SEES FY EXPLORATION & APPRAISAL US$165M (NET OF TAX REFUND), DEVELOPMENT & PRODUCTION US$130M.CAIRN ENERGY PLC SAYS AVERAGE GROSS PRODUCTION IN SIX MONTHS TO JUNE 2019, WAS MORE THAN 32,700 BOPD AT KRAKEN.CAIRN ENERGY PLC SAYS KRAKEN CRUDE PRICING CONTINUES TO STRENGTHEN INTERNATIONALLY IN LIGHT OF CURRENT HEAVY OIL MARKET.CAIRN ENERGY SAYS SNE FIELD DEVELOPMENT FIRST PHASE REMAINS ON SCHEDULE, TARGETING FIRST OIL IN 2022 WITH EXPECTED GROSS PRODUCTION OF 100,000 BOPD.CAIRN ENERGY PLC SAYS FOR THE FIRST HALF OF YEAR KRAKEN PRODUCTION AVERAGED MORE THAN 32,700 BOPD.HY REVENUE $270.3 MILLION VERSUS. $182.4 MILLION LAST YEAR.  Full Article

Cairn Energy Enters Agreement For Sale Of 10% Interest In Nova Development Offshore Norway
Tuesday, 6 Aug 2019 

Aug 6 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC - NOVA UPDATE.CAIRN ENERGY PLC - ENTERED INTO A FARM-OUT AGREEMENT FOR SALE OF A 10% INTEREST IN NOVA DEVELOPMENT OFFSHORE NORWAY..CAIRN ENERGY PLC - WITH EFFECT FROM 1 JANUARY 2019, ONE-DYAS NORGE AS SHALL ACQUIRE 10% IN PROJECT BY PAYING US$59.5 MILLION.CAIRN ENERGY PLC - FOLLOWING THIS TRANSACTION CAIRN WILL RETAIN A PARTICIPATING INTEREST OF 10% INTEREST IN NOVA DEVELOPMENT.CAIRN ENERGY - FOLLOWING THIS TRANSACTION CAIRN WILL REDUCE ITS CAPITAL EXPENDITURE TO END OF 2021 IN NOVA AREA BY ABOUT US$110M.  Full Article

Edison says Energean deal will support Edison's strategic development plan
Thursday, 4 Jul 2019 

July 4 (Reuters) - Electricite de France SA /Edison ::* The financial resources deriving from this transaction will support Edison's strategic development plan, which envisages very significant investments in Italy in the 2019-2021 three-year period intended mainly for sustainable production from renewable sources and gas, as well as the strengthening of the Company’s activities in retail market and energy efficiency services, Edison says in a statement.  Full Article

Cairn Energy to pay special dividend after $400 million Senegal interests sale

Oil and gas producer Cairn Energy said on Monday it will sell its Senegal interests to Russia's LUKOIL for up to $400 million and intends to return at least $250 million as a special dividend after sale completion, sending its shares up 5%.