Share Name Share Symbol Market Type Share ISIN Share Description
Ophir Energy LSE:OPHR London Ordinary Share GB00B24CT194 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.40p -0.83% 47.70p 47.70p 48.00p 49.00p 46.00p 46.40p 1,040,068 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 139.6 -47.7 -11.7 - 337.26

Ophir Energy Forecasts 16% Rise in 1st Half Revenue

12/07/2018 9:46am

Dow Jones News


Ophir Energy (LSE:OPHR)
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1 Month : From Jun 2018 to Jul 2018

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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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