Last 165.40 GBp
Change Today +2.00 / 1.22%
Volume 1.6M
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As of 11:35 AM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

cairn energy plc (CNE) Snapshot

164.80 GBp
Previous Close
163.40 GBp
Day High
165.80 GBp
Day Low
162.20 GBp
52 Week High
05/1/13 - 296.60 GBp
52 Week Low
03/24/14 - 149.70 GBp
Market Cap
Average Volume 10 Days
-0.93 GBp
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Current Stock Chart for CAIRN ENERGY PLC (CNE)

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cairn energy plc (CNE) Details

Cairn Energy PLC operates as an oil and gas exploration, development, and production company primarily in the Atlantic Margin, the Mediterranean, Africa, the United Kingdom, and Norway. As of December 31, 2013, the company had 62 licenses in 11 countries in frontier and mature basins. Cairn Energy PLC is headquartered in Edinburgh, the United Kingdom.

cairn energy plc (CNE) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: 855.8K GBP
Chief Financial Officer, Managing Director, E...
Total Annual Compensation: 691.7K GBP
Deputy Chief Executive, Executive Director an...
Total Annual Compensation: 749.4K GBP
Compensation as of Fiscal Year 2013.

cairn energy plc (CNE) Key Developments

Cairn Energy plc Announces Management Changes, Effective May 15, 2014

Cairn Energy plc announced that as part of its long term succession planning, Dr. Mike Watts, Deputy CEO, and Jann Brown, Managing Director and CFO will not seek re-election at the AGM on May 15, 2014 and will stand down as Executive Directors of the Company with effect from that date. Dr. Watts and Ms Brown have agreed, during their notice periods, to continue in senior roles and dedicate their time to seeking to resolve the tax position in India. James Smith will take over the role of Finance Director and will join the Cairn Board as an Executive Director, with effect from the conclusion of the AGM. Mr. Smith joined Cairn recently from Rothschild where he was a Director in the Energy & Power team in London. Following these changes, Cairn will have two Executive Directors on its Board - Simon Thomson, Chief Executive and James Smith, Finance Director. They will be supported by the Director of Exploration, Richard Heaton and Chief Operating Officer, Paul Mayland who have a combined experience at Cairn of more than 30 years.

Cairn Energy plc Announces Group Earnings Results for the Year Ended December 31, 2013

Cairn Energy plc announced group earnings results for the year ended December 31, 2013. For the period, the company reported operating loss of $879.1 million compared to $247.3 million for the same period a year ago. Loss before taxation from continuing operations was $1,098.9 million compared to $194.2 million for the same period a year ago. Loss attributable to equity holders of the parent was $555.9 million or 93.24 cents per diluted share compared to profit attributable to equity holders of the parent was $72.6 million or 11.12 cents per diluted share for the same period a year ago. Net cash from operating activities was $39.2 million compared to net cash used in operating activities was $73.7 million for the same period a year ago. Expenditure on intangible exploration/appraisal assets was $386.6 million compared to $139.1 million for the same period a year ago.

Cairn Energy plc Announces Morocco Operational Update

The following operational update related to Cairn Energy plc's 2014 exploration drilling campaign on the JM-1 well, offshore Morocco, where operations commenced in January 2014. The JM-1 well (Cairn Working Interest (WI) 37.5% and Operator) drilled to evaluate Upper Jurassic and Middle Jurassic objectives reached a total depth of 3,711m TVDSS and has been plugged and abandoned without testing. In the Upper Jurassic section, the well has confirmed the presence of heavy oil over a gross interval of 110 metres as originally tested in the 1968 MO-2 well, some 2km from the JM-1 well. Reservoir quality and the oil gravity in the Upper Jurassic across the Cap Juby structure require further evaluation by Cairn and its joint venture partners (Office National Des Hydrocarbures et Des Mines 'ONHYM' and Genel Energy). Work is ongoing to correlate the core and log data from JM-1 with other wells on Cap Juby to evaluate the extent of moveable hydrocarbons and how any further assessment should be conducted. The Middle Jurassic objective was encountered with limited primary porosity and evaluation of well logs and side wall cores continues. The next well in Cairn's planned exploration programme is 'FAN-1' located in the Sangomar, Sangomar Deep and Rufisque blocks (Cairn 40% WI, Operator) offshore Senegal. This well will target multiple stacked structural and stratigraphic fan closures interpreted as trapping a variety of potentially thick, high quality clastic reservoirs.


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