Edition:
United Kingdom

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.