Rockhopper Exploration announces half-year results
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, has announced its results for the six months ended 30 June 2016.
Highlights
During the Period:
Post 30 June 2016:
David McManus, Chairman of Rockhopper, commented:
'We continue to make very good progress in advancing the Sea Lion development, taking advantage of the current industry backdrop to reduce costs and the break-even oil price required to sanction.
The results of the highly successful exploration campaign and the subsequent independent resource audit further supports Rockhopper's view that the North Falkland Basin has the potential to deliver multiple future phases of development and, ultimately, a billion barrels of recoverable oil.
As a result of the recently concluded acquisition of Beach Egypt, our production for the remainder of 2016 is estimated to be approximately 1500 boe/d, with operating cash flows expected to broadly cover the Group's overheads going forward.'
For more information, please visit: www.rockhopperexploration.co.uk
Adapted from a press release by Louise MulhallRead the article online at: https://www.oilfieldtechnology.com/exploration/14092016/rockhopper-exploration-announces-half-year-results/
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