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Ophir Energy signs Fortuna contract with Schlumberger

Mon, 25th Jan 2016 07:47

(ShareCast News) - Ophir Energy has signed a non-binding head of terms agreement with Schlumberger, which will receive a 40% interest in the company's Fortuna project in Equatorial Guinea.Under the definitive agreement, which is expected to be signed in the second quarter, Schlumberger will reimburse 50% of Ophir's past costs in the form of a development carried interest. This is expected to cover Ophir's share of capital expenditures up until first sales of liquefied natural gas.Chief executive Nick Cooper said: "We are very pleased to welcome Schlumberger into the Fortuna FLNG project. Innovative partnering in the upstream is increasingly important to deliver world class projects that can create value throughout the cycle."Ophir's cost to first gas is fully funded by this transaction, and we can now evaluate the other funding and offtake proposals that we have received to select at financial investment decision the combination that creates most value for shareholders."In addition, Ophir said it is likely to produce 10,500 to 11,500 barrels of oil equivalent per day in 2016, with the Kerendan gas field expected to start contributing to these volumes in the second half of the year.Meanwhile, capital expenditure for the year is seen at between $175m and $225m.Group operating cash flow from producing assets is forecast to be $75m to $100m which, along with a planned 2016 refinancing of the debt facilities, is expected to lead to a 2016 year end cash position of between $550m and $600m.
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15 Feb 2019 14:24

Goldman Sachs Holds 6% Ophir Energy Stake After Deal (ALLISS)

LONDON (Alliance News) - Ophir Energy PLC said Friday that Goldman Sachs Group Inc holds 6.26% stake in the oil and gas exploration firm after a transaction on Tuesday.Goldman Sachs's

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11 Feb 2019 13:38

Monday broker round-up

(Sharecast News) - Metro Bank: Berenberg upgrades to hold with a target price of 1,200p.

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8 Feb 2019 14:29

Sand Grove Capital Management Lifts Holding In Ophir Energy To 11% (ALLISS)

LONDON (Alliance News) - Ophir Energy PLC on Friday said Sand Grove Capital Management LLP increased its stake in the oil and gas exploration and production company.In a transaction on Sand

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1 Feb 2019 15:50

Sand Grove Capital Management Builds 6.4% Ophir Energy Stake (ALLISS)

LONDON (Alliance News) - Ophir Energy PLC said Friday Sand Grove Capital Management Ltd had built a 6.4% stake in the oil & gas firm in a transaction on Wednesday.Sand Grove held 45.5 a

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30 Jan 2019 11:57

LONDON MARKET MIDDAY: Lower Pound Propels FTSE; US Fed Decision Due

LONDON (Alliance News) - The FTSE 100 was racing ahead of European peers on Wednesday as the pound continued to trundle following last night's parliamentary Brexit vote. In the US, stocks are

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30 Jan 2019 10:28

Ophir Energy agrees to Medco takeover

(Sharecast News) - Exploration and production group Ophir Energy has agreed to be taken over by Indonesia's Medco in a deal that values the company at around £390.6m.

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30 Jan 2019 08:38

Ophir Energy Reaches Takeover Agreement With Indonesia's PT Medco

LONDON (Alliance News) - Ophir Energy PLC and PT Medco Energy Internasional Tbk have reached an agreement over a takeover, the latter said on Wednesday.Indonesian firm PT Medco will be 55 a

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28 Jan 2019 15:46

Ophir Energy extends deadline for Medco takeover offer

(Sharecast News) - Ophir Energy has extended the deadline for Indonesian oil and gas producer Medco Energi Internasional to make a firm takeover offer or walk away from a deal, the company reported on Monday.

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28 Jan 2019 10:47

Deadline Extended For PT Medco To Make Firm Offer For Ophir Energy

LONDON (Alliance News) - Ophir Energy PLC said on Monday the deadline for PT Medco Energi Internasional Tbk to firm its takeover intentions has been extended.PT Medco, an Indonesia oil and

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15 Jan 2019 14:23

Ophir Energy capex comes in below forecasts

(Sharecast News) - Ophir Energy updated the market on its trading and operations for the 12 months ended 31 December on Tuesday, reporting estimated capital expenditure including pre-licence expenditures of $122m, which was below its previous guidance of $145m.

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15 Jan 2019 09:30

Ophir Energy Sees 8% Rise In 2018 Production, 2019 Output To Be Lower

LONDON (Alliance News) - Ophir Energy PLC said Tuesday that it expects a substantial increase in average production for 2018 due to the integration of South East Asian assets acquired from firm is

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14 Jan 2019 11:09

EXTRA: Ophir Energy Rebuffs Proposal From Indonesian Rival PT Medco

LONDON (Alliance News) - Ophir Energy PLC has rejected a possible offer from Indonesia's PT Medco Energi Internasional Tbk, the company said Monday, at a price below what was proposed in is at

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14 Jan 2019 10:31

Ophir board rejects proposed Medco offer

(Sharecast News) - Ophir Energy has rejected a possible takeover offer by PT Medco Energi Global as the board feels it undervalues the company's shares.

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14 Jan 2019 08:07

TOP NEWS: Ophir Energy Rejects Medco Energi's GBP343 Million Offer

LONDON (Alliance News) - Ophir Energy PLC said Monday its board unanimously rejected a takeover offer from Jakarta-listed energy company PT Medco Energi Internasional Tbk, which values the company

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11 Jan 2019 14:04

UPDATE: PT Medco's Latest Proposal Lower Than Two Previous - Ophir

LONDON (Alliance News) - PT Medco Energi Internasional Tbk's possible offer for Ophir Energy PLC is well below what it proposed in October, Ophir said Friday.Earlier Friday, PT Medco if

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