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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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6 Sep 2018 16:01

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 7 September Secure Income REITHalf Year Results Ashmore GroupFull Year Year

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4 Jul 2018 12:43

Standard Life Aberdeen Rises Interest In Ophir Energy To 5.2% (ALLISS)

LONDON (Alliance News) - Ophir Energy PLC on Wednesday said Standard Life Aberdeen PLC upped its holding the exploration company to 5.2%.Prior to Monday's transaction, Standard Life was

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31 May 2018 09:28

BROKER RATINGS SUMMARY: UBS Raises Ocado To Neutral From Sell

LONDON (Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:----------FTSE 100----------LIBERUM RAISES PRICE TARGET TO 6175 -

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18 May 2018 10:32

WINNERS & LOSERS SUMMARY: Retailer Carpetright Rises On Fundraising

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------DS up 2.1%. to

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18 May 2018 09:04

Ophir Energy Chief Executive Nicholas Cooper To Step Down

LONDON (Alliance News) - Oil and gas company Ophir Energy PLC said on Friday Chief Executive Officer Nicholas Cooper will step down form his role with immediate effect, but will remain with the to

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18 May 2018 07:42

LONDON MARKET PRE-OPEN: Lower Call As AstraZeneca Earnings Slip

LONDON (Alliance News) - Stock prices in London are seen opening marginally lower on Friday after the FTSE 100 set a record closing high on Thursday, as AstraZeneca reported a drop a

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14 May 2018 09:14

Ophir Energy Signs Farm-Out With Kosmos Energy In Equatorial Guinea

LONDON (Alliance News) - Ophir Energy PLC on Monday said it has agreed a farm-out deal with Kosmos Energy for the EG-24 exploration licence in Equatorial Guinea.Kosmos is to acquire a 40% a

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9 May 2018 16:12

UK Shareholder Meetings Calendar - Next 7 Days

Thursday 10 MayConvaTec GroupArbuthnot Banking GroupAvivaBAE Line Point Social 11 14

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3 May 2018 10:36

Ophir Energy To Acquire Asian Asset Portfolio For USD205 Million

LONDON (Alliance News) - Ophir Energy PLC said Thursday that it will acquire certain Southeast Asian assets from Australian oil and gas company Santos Ltd for USD205 million in cash.The oil

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12 Mar 2018 19:00

UPDATE 1-Start of Golar's floating LNG in Cameroon may draw more Africa clients

* First LNG in Cameroon helps prove Golar's FLNG concept * Expected to positively impact Fortuna FLNG, order book * First LNG export from expected in trading

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7 Mar 2018 12:07

Ophir Energy Focusing On Fortuna Project As Annual Loss Widens

LONDON (Alliance News) - Ophir Energy PLC said on Wednesday its annual loss widened in 2017, a year in which it failed to secure funding for the Fortuna floating liquefied gas

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7 Mar 2018 05:36

UK Stocks-Factors to watch on March 7

March 7 (Reuters) - Britain's FTSE 100 index is seen opening down 18 points on Wednesday, according to financial bookmakers. * IAG: The chief executive of British IAG is a

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12 Jan 2017 09:38

Ophir Energy posts extensive update on passable year

(ShareCast News) - Ophir Energy updated the market on its asset portfolio and trading for the year to 31 December on Thursday. The London-listed firm said the Fortuna FLNG project remained firmly on schedule for a final investment decision in the first half of this year. At Kerendan, Ophir said PLN

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29 Dec 2016 08:48

Ophir Energy confirms completion of Tanzania drilling

(ShareCast News) - Ophir Energy, along with its joint venture partners BG Tanzania (Shell) and Pavilion Energy, announced on Thursday that they have concluded the drilling of two exploration wells offshore Tanzania, safely and on time. The London-listed firm said the programme comprised Kitatange-1

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5 Dec 2016 20:36

Murphy, Ophir-led consortium wins block in Mexico oil auction

MEXICO CITY, Dec 5 (Reuters) - Mexico awarded a consortium of Murphy Sur, Ophir Mexico Holdings, PC Carigali Mexico and Sierra Offshore Exploration the fifth block tendered from the Gulf of Mexico's Salina Basin in a historic deep water oil and gas auction on Monday. Block 5 is a 993.5 squa

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