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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ASX:AU000000STO6-AUD | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Apr 2019 to Apr 2024
By Oliver Griffin
Ophir Energy PLC (OPHR.LN) said Thursday that revenue in the first half of 2018 is expected to be 16% higher than the previous-year period, citing higher-than-expected commodity prices and above-forecast production.
The oil-and-gas exploration company said revenue for the six months ended June 30 is forecast at $102 million, up from $88.3 million last year.
The company said that average daily production during the first half of the year was 11,400 barrels of oil equivalent a day, above previous forecasts.
Cash flow from production in the first half of 2018 is forecast to be $43 million. Ophir Energy said cash flow from production for the whole year, on a proforma basis including assets it is acquiring from Santos Ltd. (STO.AU), is forecast at $190 million.
Production for the full year is forecast at 11,500 barrels of oil equivalent per day, rising to 25,000 barrels on a proforma basis including the Santos acquisition, the company said.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
July 12, 2018 04:31 ET (08:31 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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