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Cairn Energy plc

 

Buy Cairn Energy plc shares

CAIRN ENERGY PLC (CNE) Shares

ABOUT CAIRN ENERGY PLC

? Cairn Energy plc is an oil and gas exploration company.

? Its portfolio includes the exploration, development and production of oil and gas across the globe in locations such as Mexico, the United Kingdom, Republic of Ireland, Mauritania, Cote d’Ivoire, Suriname, Israel, Senegal, Norway and Nicaragua.

? Cairn is a leader in the industry and recognized for its ability to operate in challenging situations, both off and onshore, in deep water or shallow, local or international.

? Cairn Energy PLC is a constituent of the FTSE 250 Index and is headquartered in Edinburgh, Scotland.

? The company also has offices in Mexico, Norway, London and Senegal.

OVERVIEW OF CAIRN ENERGY PLC

  • In 1980 Sir Bill Gammell founds the company. In 1988 Cairn Energy plc is created and lists on the London Stock Exchange. It starts with a market capitalisation of US Dollar 25 million.

  • In 1993 it expands to Bangladesh through a joint venture with Holland Sea Search N.V. Further interests in the country is purchased a year later.

  • In 1995 the company buys Holland Sea Search N.V. and expands its portfolio considerably.

  • In 1996 Cairn buys Command Petroleum Limited, adding operations in Ravva in the Bay of Bengal, Bangladesh.

  • The company enters an agreement with Shell in India and Bangladesh in 1997. In 1998 Cairn buys interests in India’s Cambay Basin, making the company the operator.

  • By 1999 the company’s Ravva oil field reserves production increases from 3 700 to 50 000 bopd. During these years two discoveries are made in Cambay Basin, India.

  • In 2002 Cairn purchases 100 percent of the Rajasthan block from Shell.

  • In 2004 the company is listed on the FTSE 100. Several more acquisitions take place and oil and gas fields are discovered during the next few years, enabling the company to expand to numerous locations across the globe.

VISION & VALUES OF CAIRN ENERGY PLC

  • Cairn Energy plc is committed to its customers and shareholder. With its strong financial position the company ensures long term value and high earnings to its shareholders. Its well established production assets provide a strong cash flow to secure developments and explorations.

  • Cairn is committed to provide a safe and healthy work environment to its employees and contractors.

  • The company operate responsibly and sustainably. Business is conducted with high ethical standards and the right values and principals.

  • These values consists of building respect, nurturing relationships and acting responsibly.

MARKET PERFORMANCE OF CAIRN ENERGY PLC

  • Cairn Energy plc trades on the Financial Times Stock Exchange under the FTSE stock symbol “CNE”.

  • Data analysis for the company’s half year financial summary for 2019 reports an oil and gas sales revenue of US Dollar 257 million.

  • Average realised sales price is US Dollar 68/boe. Average production cost is US Dollar 17/boe. Cash inflow from oil and gas production is US Dollar 200 million. Operating profit is US Dollar 60 million.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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