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Last 83.50 GBp
Change Today 0.00 / 0.00%
Volume 1.9M
FPM On Other Exchanges
Symbol
Exchange
London
Berlin
As of 11:35 AM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

faroe petroleum plc (FPM) Snapshot

Open
82.00 GBp
Previous Close
83.50 GBp
Day High
84.50 GBp
Day Low
82.00 GBp
52 Week High
06/2/14 - 138.50 GBp
52 Week Low
01/14/15 - 58.00 GBp
Market Cap
223.8M
Average Volume 10 Days
589.7K
EPS TTM
-0.25 GBp
Shares Outstanding
268.1M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FAROE PETROLEUM PLC (FPM)

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faroe petroleum plc (FPM) Details

Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, development, and production of oil and gas fields in Northwest Europe. It has interests in six principal producing oil and gas fields in the United Kingdom and Norway, including interests in the Blane oil field and the Schooner and Ketch gas fields in the United Kingdom; and interests in the producing Njord, Brage, and Ringhorne East fields in Norway. The company was founded in 1997 and is headquartered in Aberdeen, the United Kingdom.

52 Employees
Last Reported Date: 05/22/15
Founded in 1997

faroe petroleum plc (FPM) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: 631.0K GBP
Chief Financial Officer and Director
Total Annual Compensation: 427.0K GBP
Chief Operating Officer, Executive Director, ...
Total Annual Compensation: 436.0K GBP
Compensation as of Fiscal Year 2014.

faroe petroleum plc (FPM) Key Developments

Faroe Petroleum plc Announces Results of Bister Exploration Well

Faroe Petroleum plc announced that drilling has reached target depth on the Statoil operated Bister exploration well in the Norwegian Sea (Faroe 7.5%). The Bister exploration well 6407/8-7 spudded on 27 April 2015 and reached total vertical depth of 2,990 metres below sea level in the Åre Jurassic formation. This was followed by side-track 6407/8-7A which was drilled to a total vertical depth of 2,770 metres below sea level. The well and side-track targeted hydrocarbons in the Jurassic, Ile, Tilje and Åre formations (analogous to the Hyme oil field and Snilehorn reservoirs) and whilst good quality reservoirs were confirmed, no hydrocarbons were encountered at this location. The Bister prospect is located in the Norwegian Sea in Licence PL 348/C, which is adjacent to the 2013 Snilehorn discovery (PL 348B) and nearby the producing Njord field and Hyme field (PL 348) (all Faroe 7.5%), and the results from the well will be used to calibrate the seismic interpretations in the licence, which still contains promising exploration targets. Statoil Petroleum AS is the operator of the PL348 licences and the Njord field. The Bister well was operated by Statoil (35%) using the Transocean Spitsbergen drilling rig with partners GDF SUEZ E&P Norge AS (15%), E.ON E&P Norge AS (17.5%), Core Energy AS (22.5%) and VNG Norge AS (2.5%) and will now be plugged and abandoned as planned.

Faroe Petroleum Announces the Spudding of Bister Exploration Well 6407/8-7

Faroe Petroleum announced the spudding of the Bister exploration well 6407/8-7 (Faroe 7.5%). The Bister prospect is located in the Norwegian Sea in Licence PL 348/C, which also contains the producing Hyme field and the 2013 Snilehorn discovery. The licence is located adjacent to the producing Njord field (Faroe 7.5%) with Statoil as the operator of both PL348 and Njord. Well 6407/8-7 will be targeting oil and gas in the Jurassic, Ile, Tilje and Åre formations (analogous to the Hyme oil field and Snilehorn reservoirs). There is a seismic amplitude anomaly on the Bister prospect of a similar character to the anomalies on both the Snilehorn discovery (estimated gross recoverable resource range of 57-101 mmboe) and the Hyme field. There is alsoevidence of a pressure barrier between Snilehorn and Hyme, which contributes towards the de-risking of the Bister prospect. The Bister exploration well, located in approximate water depth of 260 metres, is operated by Statoil (35%) using the Transocean Spitzbergen drilling rig with partners GDF SUEZ E&P Norge AS (20%), E.ON E&P Norge AS (17.5%), Core Energy AS (17.5%) and VNG Norge AS (2.5%). Results from the well will be announced when drilling operations are complete.

Faroe Petroleum plc Announces Results of the Skirne East Exploration Well in Norway

Faroe Petroleum announced the results of the Skirne East exploration well (Faroe 20%) in Norway. Highlights: The Total E&P Norge AS operated Skirne East exploration well 25/6-5S, in the Norwegian North Sea is a gas discovery, which encountered a net 10 metre gas column in the high quality Middle Jurassic Hugin formation; The preliminary volumetric gross estimate of the size of the discovery is 3 to 10 million barrels of oil equivalent ("mmboe") recoverable (0.6 to 2.0 mmboe net to Faroe). Exploration well 25/6-5S has encountered a net gas-bearing reservoir section estimated at 10m in the Middle Jurassic Hugin formation, confirming hydrocarbons at the same reservoir level as in the adjacent producing Skirne field. Reservoir properties were found to be excellent and extensive data gathering has been conducted. The Skirne East exploration well 25/6-5S spudded on 13 March 2015 and was drilled to a total depth of 2,366 metres below sea level. The Skirne East discovery in Licence PL 627 is located in the Norwegian North Sea on the northern part of the Utsira High approximately 5 kilometres from the Total operated producing Skirne field. The partners are Total (40%), Centrica Resources Norge AS (20%) and Det norske oljeselskap AS (20%). The Skirne East exploration well will now be plugged and abandoned as planned.

 

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FPM

Industry Average

Valuation FPM Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.4x
Price/Book 0.9x
Price/Cash Flow 1.9x
TEV/Sales 1.7x
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