Coastal Energy Company engages in the exploration, development, and production of oil and gas properties in Thailand. The company holds 100% interests in the G5/43 block that covers an area of approximately 2,494 square kilometers; and G5/50 block covering approximately 283 square kilometers in the Gulf of Thailand. It also owns a net 13.7% working interest in EU-1 and E5-N blocks, which contains Sinphuhorm gas field located in northeast Thailand; and a net 39.0% working interest in L27/43 and L15/43 blocks located in the onshore Thailand. Coastal Energy Company was founded in 2004 and is based in George Town, the Cayman Islands. As of January 17, 2014, Coastal Energy Company operates as a s...
87 Mary Street
PO Box 908GT
George Town, KY1-9001
Founded in 2004
Murphy Oil Reportedly To Sell Malaysian Assets
Feb 21 14
Murphy Oil Corporation (NYSE:MUR) is seeking to sell 30% stake in its oil and gas (O&G) Malaysian assets at a price tag of $2 Billion to $3 Billion , sources said. Several parties have expressed interest, including SapuraKencana Petroleum Berhad (KLSE:SKPETRO), Hibiscus Petroleum Berhad (KLSE:HIBISCS), Coastal Energy Company (TSX:CEN), Sona Petroleum Berhad (KLSE:SONA) and CLIQ Energy Berhad (KLSE:CLIQ), a banker said. One of Murphy’s key assets is said to be the Kikeh oil field in Block K offshore Sabah, as well as shallow oil fields in Block SK, a sizeable gas production in Sarawak, and the yet-untapped Block H, where Petronas is set to deploy its second floating liquefied natural gas facility (FLNG) in the Rotan field. Murphy holds an 80% stake in the Kikeh field.
Coastal Energy Company, Special/Extraordinary Shareholders Meeting, Jan 06, 2014
Nov 21 13
Coastal Energy Company, Special/Extraordinary Shareholders Meeting, Jan 06, 2014., at 10:00 US Eastern Standard Time. Location: the offices of Walkers at 190 Elgin Avenue. Agenda: To consider and approve a special resolution plan of merger under section 233 of the Companies Law (2013 Revision) of the Cayman Islands involving Coastal and Condor (Cayman) Limited, a newly incorporated entity controlled by Compañía Española de Petróleos, S.A.U.; and to transact such other business as may properly be brought before the Meeting and any adjournment or postponement thereof.
Coastal Energy Company Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Nov 11 13
Coastal Energy Company reported consolidated earnings results for the third quarter and nine months ended September 30, 2013. The company reported revenue and other income of $208,736,000, net income before income taxes of $105,991,000, net income of $51,839,000 or $0.44 per diluted share against revenue and other income of $147,467,000, net income before income taxes of $85,964,000, net income of $124,792,000 or $0.34 per diluted share a year ago. Cash flow from operating activities was $89,628,000 against $16,689,000 a year ago. Expenditure on property, plant and equipment was $70,953,000 against $140,551,000 a year ago. EBITDAX was $134.6 million, 18% higher than the $114.6 million recorded in third quarter 2012 due to higher production and lifting volumes.
For the nine months, the company reported revenue and other income of $538,110,000, net income before income taxes of $289,371,000, net income of $124,792,000 or $1.04 per diluted share against revenue and other income of $490,035,000, net income before income taxes of $303,656,000, net income of $133,048,000 or $1.10 per diluted share a year ago. Cash flow from operating activities was $239,545,000 against $235,490,000 a year ago. Expenditure on property, plant and equipment was $247,922,000 against $231,478,000 a year ago. The company's EBITDAX for the nine-month period is in line with 2012 levels despite a modest decline in realized crude pricing due to higher production and lifting volumes.