Cairn Energy plc plans to sell its North Sea interests in Catcher and Kraken fields for US$460 million to Norwegian company Waldorf Production Ltd. POSITION Cairn entered into an agreement that will also include additional contingent consideration dependent principally on oil prices from 2021 to the end of 2025. The sale, subject to shareholder approval, […]
Tag: Cairn Energy plc
Cairn revenue falls as net oil output dips
Cairn Energy plc announced a decrease in revenue as net oil production fell slightly below guidance figures. In its full year result for 2020, the group’s revenue from net oil and gas sales was recorded at US$324 million (2019: $504m) following the fall in oil prices last year. Net oil production averaged just over 21,000 bopd, […]
Cairn Energy appoints Nicoletta Giadrossi as chair
Cairn Energy plc has appointed Nicoletta Giadrossi as chair of the company with effect from 1 January 2021. She will succeed Ian Tyler who, after seven years on the Cairn board including six as chairman, announced in May 2020 that he would retire from the board on appointment of a successor. Ms Giadrossi is one […]