Edition:
United Kingdom

Cairn Energy Sees FY 2018 Production To Be 17,000 Bopd To 20,000 Bopd​


Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Cairn Energy Plc ::FY PRODUCTION, NET TO CAIRN, FOR 2018 ESTIMATED TO BE 17,000 TO 20,000 BOPD WITH PLATEAU PRODUCTION FROM CATCHER AND KRAKEN ACHIEVED BY MID-YEAR​.GROUP NET CASH AT 31 DECEMBER 2017 WAS $56 MILLION.KRAKEN PRODUCTION TO REACH 50,000 BOPD GROSS DURING H1 2018; GROSS PROJECT CAPEX EXPECTED BE 25% LESS THAN ORIGINAL SANCTIONED PROJECT COST​.RESERVES BASED LENDING BANK FACILITY WAS UNDRAWN AT YEAR END WITH EXPECTED PEAK AVAILABILITY OF $350-400 MILLION.ANTICIPATE START OF EXPLORATION DRILLING IN 2019​ IN ‍BLOCKS OFFSHORE MEXICO.FORECAST KRAKEN AND CATCHER DEVELOPMENT EXPENDITURE FOR 2018 IS $125 MILLION.