Cairn Energy shares rose after revealing an appraisal well offshore Senegal confirmed “good connectivity” to another site drilled by the firm. The Edinburgh-based exploration and production firm said the results meant it was now on track to submit a development plan for the field to the Senegal government next year.
Cairn Energy today confirmed it has completed its ninth successful well in Senegal in three years.
The Irish Government has sanctioned Europa Oil and Gas’s farm out of a 70% stake in an offshore licence to Edinburgh-based Cairn Energy.
Cairn Energy has successfully drilled the sixth appraisal well offshore Senegal.
Cairn Energy's Senegal appraisal well has lived up to expectations, according to the firm.
Cairn Energy today named Eric Hathon has its director of exploration.
Cairn Energy today said it was fully funded and targeting first production from two flagship North Sea assets.
Cairn Energy today confirmed Nicoletta Giadrossi would be joining its board as a non-executive director.
A former fund manager has pleaded guilty to two counts of insider trading at a London court.
Carbon intensive companies should expect to face greater scrutiny over governance and climate change risks as a result of recent changes to corporate reporting. In the latest step in a campaign by environmental law charity ClientEarth, energy companies Cairn Energy Plc (Cairn) and SOCO International Plc (SOCO) have been referred to the Financial Reporting Council (FRC) for alleged breaches of reporting obligations under Section 414C of the Companies Act 2006. The claim made is that both companies failed to make adequate disclosures in their Strategic Reports 2015 about the risks posed to their businesses by climate change.
An environmental law firm has reported Cairn Energy to the UK financial regulator, accusing the Edinburgh-based firm of “defective” reporting.
Scottish oil explorer Cairn Energy said today the North Sea Catcher and Kraken fields are still on track for first oil in 2017.
Norway's sovereign wealth fund has banned Cairn Energy and Kosmos Energy from its portfolio due to their business in the disputed territory of West Sahara.
Cairn India boss Mayank Ashar has quit decided to step down for personal reasons, just a month after the nation’s largest private oil producer posted its biggest quarterly loss.
Cairn Energy today said its fourth Senegal appraisal well confirmed reservoir extensions, spanning more than 5km.
Administrators have begun the task of securing what they can following the demise of Aberdeen oil company First Oil.
Cairn Energy today confirmed both its Catcher and Kraken projects, both in the UK North Sea, remained on track for first oil next year.
Cairn Energy today confirmed it had made a commercial find offshore Senegal.
Cairn Energy remains focused on the billion barrel oil prize that is within reach from its discovery in West Africa.
Scottish explorer Cairn Energy says its UK North Sea Catcher and Kraken developments are on track for first oil from 2017. The Edinburgh-based company is targeted peak net production to Cairn of 22,500 barrels of oil equivalent per day.
Cairn Energy expects to shave £250million off its capital expenditure following the completion of a farm-out of Catcher to Netherlands-based Dyas. The Edinburgh-based oil and gas indy agreed to sell a 10% working interest in the North Sea field to Dyas UK, retaining a 20% working interest in Catcher.
A job cull at Cairn Energy has seen about two-fifths of staff and contractors axed, the Scottish oil explorer revealed. About 90 people have gone, although most chose to take voluntary redundancy. The cuts were made across Edinburgh-based Cairn’s international operations, and leave the company with around 190 staff and contractors.
Cairn Energy has made reductions to its staff cutting 40% of its headcount in both full-time employees and contractors. The company made the announcement in a pre-close update in which it said its 2015 focus would be on an appraisal and exploration programme in Senegal. Cairn is currently still engaged in discussion with the Indian Tan department as it struggles to gain access to the value of its 10% share of Cairn Energy.
