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Cairn Energy PLC (CNE.L)

CNE.L on London Stock Exchange

182.60GBp
6 Dec 2019
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2.40 (+1.33%)
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Latest Key Developments (Source: Significant Developments)

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 Sees 2019 Production Within Guidance Of 19,000-22,000 Bopd
Friday, 17 May 2019 

May 17 (Reuters) - Cairn Energy PLC ::GROUP PRODUCTION FOR 2019 REMAINS WITHIN GUIDANCE OF 19,000-22,000 BOPD FOR FIRST FOUR MONTHS.PLEASED WITH PERFORMANCE OF CATCHER, WHICH IS OPERATING AHEAD OF OUR EXPECTATIONS AND WHERE OPERATING EFFICIENCY IS EXCELLENT.LAST YEAR WAS FIRST FULL YEAR OF PRODUCTION FROM OUR TWO PRODUCTION ASSETS IN UK NORTH SEA.IN FY CATCHER & KRAKEN GENERATED AROUND 17,500 BARRELS OF OIL/DAY NET TO CAIRN AND AROUND US$395MILLION IN OIL AND GAS SALES REVENUE.CONTINUE TO PROGRESS OUR TWO HOME GROWN DEVELOPMENT PROJECTS: SNE IN SENEGAL AND NOVA IN NORWAY.BOTH PROJECTS SNE IN SENEGAL AND NOVA IN NORWAY ARE FIRMLY ON SCHEDULE WITH FIRST OIL FROM NOVA TARGETED IN 2021 AND FROM SNE IN 2022.  Full Article

Cairn Energy Sees 2019 Net Production Of 19,000-22,000 Bopd
Tuesday, 12 Mar 2019 

March 12 (Reuters) - Cairn Energy PLC ::CAIRN PLANS A MATERIAL EXPLORATION PROGRAMME IN 2019.FY COMBINED NET PRODUCTION AVERAGED ABOUT 17,500 BOEPD.FY OIL AND GAS SALES REVENUE US$396M.ESTIMATED 2019 NET PRODUCTION OF 19,000 TO 22,000 BOPD; AVERAGE PRODUCTION COST US$20/BBL.FORECAST CAPITAL EXPENDITURE US$300M IN 2019.FY OPERATING LOSS $182.1 MILLION VERSUS $105.2 MILLION.  Full Article

Cairn Energy Updates On Proceedings Against India Under UK-India Treaty
Monday, 11 Mar 2019 

March 11 (Reuters) - Cairn Energy PLC ::CAIRN ENERGY PLC - AN UPDATE ON ITS PROCEEDINGS AGAINST INDIA UNDER UK-INDIA BILATERAL INVESTMENT TREATY.CAIRN ENERGY-ARBITRATION PANEL ADVISED IT WAS NOT ABLE TO ADVANCE BINDING & INTERNATIONALLY-ENFORCEABLE AWARD AS EXPECTED DUE TO PROCEDURAL MATTERS.CAIRN ENERGY - EXPECTS TIMETABLE FOR ISSUING BINDING & INTERNATIONALLY-ENFORCEABLE AWARD TO BE MORE PROTRACTED THAN ORIGINALLY ANTICIPATED.CAIRN ENERGY - EXPECTS TIMETABLE FOR ISSUING BINDING & INTERNATIONALLY-ENFORCEABLE AWARD UNLIKELY TO BE BEFORE LATE 2019.CAIRN ENERGY SAYS "CONTINUES TO HAVE A HIGH LEVEL OF CONFIDENCE IN MERITS OF ITS CLAIMS IN ARBITRATION".  Full Article

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

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Explainer: Australian minnow Far battles Woodside over West African oil spoils

MELBOURNE A long-running dispute between two Australian partners in an oil field off Senegal is set to be resolved this month, just as the companies look to sign off on a $4.2 billion plan to develop the West African nation's first oil project.