DETNF - Essential Takeaways From Cairn Energy H1 Results
On September 11, 2018, Cairn Energy (CRNCY, CRNZF) presented its H1 2018 results. More specifically:
- The firm reported revenue of $182.4 million which represents a 16.8x increase in comparison with the H1 2017 revenue of $10.8 million. I shall analyze it below.
- EBIT is still negative, but the loss decreased by 34%, from $(52.4) million to $(34.5) million.
- More interestingly, net operating cash flow is positive and equals to $30.7 million.
- H2 2018 production guidance is 20.5-22 mboepd. The firm’s production cost is $24.3 per barrel. An essential remark is that Norwegian