logo
Plus   Neg
Share
Email

Cairn Energy Says 2020 Net Production In Line With Guidance

Cairn Energy Plc. (CNE.L) said that its full year 2020 net production was just over 21,000 bopd, in line with guidance. Crude sales from both fields averaged close to the dated Brent benchmark pricing or better during the period.

The company noted that it has entered 2021 with balance sheet strength and financial flexibility. The sale of the company's interests in Senegal and return of capital to shareholders demonstrates continued strategic delivery and differentiation.

The company is well-positioned to be opportunistic in the current market as it seeks to diversify and grow its production base.

The company's current 2021 net production guidance range is 16,000 - 19,000 bopd, subject to ongoing discussions with the respective Operators regarding the timing and duration of planned shutdowns and understanding the impact of the ongoing gas injection trials on Catcher.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate. Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth-quarter net earnings attributable to shareholders rose 23 percent to $35.84 billion from last year's $29.16 billion, with earnings per share improving to $23,015 per Class A share from $17,909 per Class A share in the prior year. Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow.
Follow RTT