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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Ophir Energy Plc    OPHR   GB00B24CT194

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Ophir Energy : first-half revenue surges on higher commodity prices

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09/14/2017 | 08:54am CET

Oil and natural gas producer Ophir Energy Plc on Thursday reported a 69.5 percent rise in first-half revenue, helped by higher commodity prices.

Brent crude prices <LCOc1> have averaged $52.68 in the six months to June 30, compared with $41.21 in the same period last year.

The company said in July it will cut about 15 percent of its global workforce to save an estimated $10 million to $12 million a year.

Ophir said the Bualuang oil field in Thailand, its most cash-generative asset, is expected to produce more in the second half of 2017.

"Going forward capital will be allocated to existing opportunities in Indonesia and Thailand that increase short-term cash flow," the company said.

The London-based company, which has most of its producing assets in Asia, however reiterated its full-year production forecast of about 12,000 barrels of oil equivalent per day. Ophir Energy said its pretax loss from continuing operations for six months to June 30 narrowed to $45.6 million from $69.6 million, a year ago.

Revenue rose to $88.3 million from $52.1 million, last year.

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Sunil Nair)

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Financials ($)
Sales 2017 181 M
EBIT 2017 -20,7 M
Net income 2017 -58,1 M
Finance 2017 75,0 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 154,33
EV / Sales 2017 2,78x
EV / Sales 2018 2,93x
Capitalization 577 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 1,25 $
Spread / Average Target 53%
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Managers
NameTitle
Nicholas John Cooper Chief Executive Officer & Executive Director
William George Schrader Chairman
Tony Rouse Chief Financial Officer & Executive Director
Craig James Director-Information Technology
Alan Booth Independent Non-Executive Director
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