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BRIEF-Faroe Petroleum sees 2015 production of 8,000-10,000 boepd
January 22, 2015 / 7:27 AM / 3 years ago

BRIEF-Faroe Petroleum sees 2015 production of 8,000-10,000 boepd

Jan 22 (Reuters) - Faroe Petroleum Plc :

* Average full year 2015 production is forecast to be in range of 8,000-10,000 boepd from all fields

* Total average economic production for full year 2014 towards upper end of guidance at approximately 9,100 boepd

* Faroe continues to seek value-enhancing production acquisitions, looking to capitalise on market conditions

* Average expected opex of $30 per boe in 2015

* 2015 exploration and appraisal capex is estimated to be about £95 million pre-tax (£25 million post-tax), development and production capex about £16 million

* No major investments are expected in 2015 in faroe’s principal producing fields which are expected to continue to produce at stable rates during year.

* 2015 hedging programme in place with 268,000 bbls of oil hedged with $90 puts Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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