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Ophir Energy PLC (OPHR.L)

OPHR.L on London Stock Exchange

62.00GBp
21 Nov 2017
Change (% chg)

2.25 (+3.77%)
Prev Close
59.75
Open
60.25
Day's High
62.50
Day's Low
58.50
Volume
332,589
Avg. Vol
712,555
52-wk High
103.41
52-wk Low
58.50

Latest Key Developments (Source: Significant Developments)

Ophir Energy posts HY revenue $88.3 mln
Thursday, 14 Sep 2017 02:00am EDT 

Sept 14 (Reuters) - OPHIR ENERGY PLC :HY REVENUE $88.3 MILLION VERSUS $52.1 MILLION YEAR AGO.PRODUCTION DURING FIRST HALF OF 2017 AVERAGED 11.3 MBOEPD.FORECAST PRODUCTION FOR FULL YEAR 2017 REMAINS AS PREVIOUSLY GUIDED AT APPROXIMATELY 12 MBOEPD..FORTUNA PROJECT CONTINUES TO MAKE PROGRESS TOWARDS AN EXPECTED FID IN 4Q 2017.SAYS CURRENT EXPECTATION IS THAT INVESTMENT IN FORTUNA WILL DELIVER AN IRR OF 25-35%.  Full Article

Ophir says Fortuna FLNG Offtake awarded to Gunvor
Monday, 21 Aug 2017 02:00am EDT 

Aug 21 (Reuters) - Ophir Energy Plc ::FORTUNA FLNG OFFTAKE AWARDED TO GUNVOR.MINISTRY OF MINES AND HYDROCARBONS, OPHIR EQUATORIAL GUINEA (BLOCK R), ONELNG SA AND GEPETROL HAVE NOMINATED GUNVOR GROUP.NOMINATED AS THEIR PREFERRED LNG BUYER FOR OFFTAKE FROM FORTUNA FLNG PROJECT.  Full Article

Ophir Energy says FY 2017 production guidance lowered to 12.0 mboepd
Wednesday, 12 Jul 2017 02:00am EDT 

July 12 (Reuters) - Ophir Energy Plc ::Issues update on its trading and operations for period ending 30 June 2017.Says production in H1 averaged 11.3 mboepd.Cost saving initiative, focused on london & expatriate roles, has been initiated which is expected to deliver annual cost savings of $10-12 million.Says FY 2017 guidance is lowered to 12.0 mboepd.Fortuna FID is expected to be delivered in second half of 2017.Says revenue for H1 2017 is forecast at $88 million.Net cash at June 30 is estimated at $130 million; with gross cash and undrawn debt of $412 million.Operating cash flow for first half 2017 is forecast at $40 million and for full year at $85 million with lower production and commodity prices.Capital expenditure for first half 2017 is forecast at $60 million.  Full Article

Ophir Energy eliminates chief operating officer position
Friday, 7 Jul 2017 11:37am EDT 

July 7 (Reuters) - Ophir Energy Plc ::‍Further reducing running costs of business by implementing staff reductions at London head office​.As a consequence, William (Bill) Higgs will be stepping down from his role as chief operating officer and executive director​.Has no plans to appoint another chief operating officer or executive director​.Further announcement will be made shortly​.  Full Article

Ophir to develop fourth phase of Gulf of Thailand oil field
Wednesday, 17 May 2017 08:54am EDT 

May 17 (Reuters) - Ophir Energy Plc ::Final investment decision has been taken to commence fourth phase of development on Bualuang oil field in Gulf Of Thailand.Total investment for development is forecast to be $145 million from now until 2020.Development investment expected to deliver NAV growth of upwards of $50 million representing an unlevered IRR of 40+ pct.Development will consist of a 12 slot bridge-linked wellhead structure with additional power generation.First oil expected in second half of 2018.Ophir's reserves auditors forecast that development will convert 9.2 mmbo of contingent resources to reserves.Project is expected to start delivering cumulative positive cash flows from start of 2019.  Full Article

Ophir fails to find significant hydrocarbons in Cote D'ivoire test well
Monday, 15 May 2017 02:24am EDT 

May 15 (Reuters) - Ophir Energy Plc ::Ayame-1X well result.Ayame-1X exploration well in block 513, Cote D'ivoire, has reached total depth of 5,394m true vertical depth sub sea.Prospective reservoir intervals were encountered as prognosed.Oil shows were recorded in target reservoirs, but significant hydrocarbons were not encountered.Operations are forecast to complete by May 22 at an estimated final cost of $20.5 million gross.Full analysis and interpretation of data is ongoing, but well will be plugged and abandoned as a dry hole.  Full Article

Ophir Energy says 66 pct of AGM votes in favour of remuneration report
Tuesday, 10 May 2016 09:15am EDT 

Ophir Energy Plc : 65.73 percent of votes cast at AGM favour of resolution to approve remuneration report, 34.27 percent against .87.99 percent of votes cast at AGM in favour of resolution to approve remuneration policy, 12.01 percent against.  Full Article

Ophir Energy Plc signed heads of agreements for Fortuna FLNG
Wednesday, 9 Dec 2015 02:00am EST 

Ophir Energy Plc:Says that it has signed heads of agreements (HoAs) for LNG offtake from the Fortuna FLNG project with six counterparties, all of whom are established LNG buyers in European and Asian markets.  Full Article

BRIEF-Ophir awarded upstream construction contract

* OPHIR EQUATORIAL GUINEA (BLOCK R) LTD, HAS AWARDED UPSTREAM CONSTRUCTION CONTRACT FOR FORTUNA FLNG PROJECT TO SUBSEA INTEGRATION ALLIANCE