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Ophir Energy PLC (OPHR.L)

OPHR.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ophir Energy Says Nick Cooper To Step Down As CEO
Friday, 18 May 2018 02:00am EDT 

May 18 (Reuters) - Ophir Energy PLC ::OPHIR ENERGY PLC - NICK COOPER TO STEP DOWN AS CHIEF EXECUTIVE OFFICER.OPHIR ENERGY PLC - ALAN BOOTH APPOINTED AS INTERIM CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR, UNTIL A NEW CHIEF EXECUTIVE OFFICER IS APPOINTED.  Full Article

Ophir Energy Says FY Revenue Rose 76 Pct
Wednesday, 7 Mar 2018 02:02am EST 

March 7 (Reuters) - Ophir Energy Plc ::FY‍ LOSS BEFORE TAXATION $64.4 MILLION VERSUS LOSS OF $50.07​ MILLION YEAR AGO .FY REVENUE ROSE 76 PERCENT TO 189 MILLION USD.‍FY EARNINGS PER ORDINARY SHARE (15.8) CENTS​.‍DURING 2017, OPHIR COMPLETED REFINANCE OF ITS RESERVES BASED LENDING FACILITY INTO A NEW SEVEN YEAR, $250 MILLION​.‍PRODUCTION IN 2018 IS EXPECTED TO AVERAGE 11,500 BOEPD WITH INFILL DRILLING TAKING PLACE ON BUALUANG IN 2H 2018​.‍IN 2019-20, EXPECT MATERIAL PRODUCTION GROWTH FROM NEXT PHASES OF DEVELOPMENT ON BUALUANG AND KERENDAN​.  Full Article

Ophir Energy Says Average Daily Production Expected To Be Level In 2018 At About 11,500 Boepd
Tuesday, 16 Jan 2018 02:00am EST 

Jan 16 (Reuters) - Ophir Energy Plc ::‍DAILY PRODUCTION FROM BUALUANG AND KERENDAN FIELD WAS BROADLY IN LINE WITH GUIDANCE PROVIDED IN MID-2017 AND AVERAGED 11,700 BOEPD​.‍2017 CAPITAL AND INVESTMENT EXPENDITURE (BEFORE WORKING CAPITAL ADJUSTMENTS) WAS BELOW GUIDANCE AT $104 MILLION​.‍AVERAGE DAILY PRODUCTION IS EXPECTED TO BE LEVEL IN 2018 AT ABOUT 11,500 BOEPD.‍UNDERLYING CASH FLOW FROM PRODUCTION IN 2018 IS FORECAST TO BE APPROXIMATELY $90 MILLION AT AN AVERAGE BRENT OIL PRICE OF $57 PER BBL.​.  Full Article

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