Faroe Petroleum finds oil in Boomerang well
17th Sep 2015 15:26
(ShareCast News) - Faroe Petroleum has struck oil in the main bore of the Boomerang exploration well at the Pil/Blue discovery in the Norwegian Sea. The AIM-listed oil and gas company, which has a 25% interest in the project, said the well encountered good reservoir properties and moveable oil with
Read moreFaroe Petroleum plugs and abandons Portrush well
11th Sep 2015 13:21
(ShareCast News) - Oil and gas company Faroe Petroleum said the Portrush exploration well in the Norwegian North Sea has been plugged and abandoned after no hydrocarbons were encountered. Faroe said this was the first well to be drilled in the production licence in the Grimsan Basin, around 20 kilom
Read moreFaroe Petroleum increases stakes in North Sea projects
1st Sep 2015 14:20
(ShareCast News) - Oil and gas explorer Faroe Petroleum has increased its share in two gas fields in the North Sea, after agreeing to acquire Roc Oil in a deal worth to $20m. Under the agreement, Faroe will take control of Roc's 12.5% stake in the Blane field and of the group's 12% stake in the Enoc
Read moreFaroe Petroleum begins drilling at Portrush well in Norwegian Sea
26th Aug 2015 11:11
(ShareCast News) - Faroe Petroleum has begun drilling the Portrush exploration well in the Norwegian Sea, in which it holds a 20% stake. The licence is located south east of the producing Statoil-operated Njord field, in which Faroe owns a 7.5% stake and west of the Shell-operated Draugen field. Ch
Read moreFaroe Petroleum shares rise on operational update
24th Jun 2015 15:14
Shares in Faroe Petroleum rose 3.3% on Wednesday, after it posted a better-than-expected operational update. Faroe said production for the five-month period from 1 January to 31 May 2015 averaged 11,324 barrels of oil equivalent per day. It said lower production costs meant the average operating c
Read moreSector movers: Oil stocks extend gains as Budget confirms North Sea tax breaks
18th Mar 2015 15:07
Confirmation by chancellor George Osborne of budgetary measures to ease the pain in the struggling oil industry gave energy producers and services stocks another big lift on Wednesday. The 2015 Budget, the last of the current parliament, revealed new tax allowances worth £1.3bn in total to stimulate
Read moreTuesday tips round-up: BG Group, Faroe Petroleum
17th Mar 2015 08:32
The headwinds faced by BG Group in Egypt are abating, but others continue to hold it back. An agreement reached over the weekend will see the company invest $2bn alongside two Egyptian outfits in its existing field there. Part of the deal will see the outstanding balances owed to it by Cairo paid. I
Read moreFaroe Petroleum rises as Total begins drilling on Shango well in Norway
16th Mar 2015 08:51
Oil and gas explorer Faroe Petroleum said drilling has begun on the Shango exploration well, in which it holds a 20% stake. Total Exploration, which owns 40% of the well in the Norwegian North Sea, began drilling on the site and could "fast-track" a subsea development from Shango to the Skirne field
Read moreBroker tips: Standard Life, Serco, Oil stocks
20th Feb 2015 11:54
Panmure Gordon has reiterated its 'buy' recommendation for Standard Life after the insurer beat forecasts with its 2014 results on Friday, saying it expects the shares to rally. "These results were ahead of expectations and we anticipate that the strong underlying performance that suggests that ther
Read moreWesthouse names Faroe, Genel and Ithaca as top picks amid oil volatility
20th Feb 2015 09:43
Despite the recent rally in oil prices uncertainties still remain for the sector, according to Westhouse Securities which picked out Faroe Petroleum, Genel Energy and Ithaca Energy as its key recommendations in the face of ongoing volatility. Brent oil, which had fallen to a low of $47.68 a barrel l
Read moreSector movers: Energy stocks tank as oil-price plunge intensifies
10th Dec 2014 15:43
Stocks in the oil producing and oil services sectors were hit by renewed selling pressure on Wednesday as crude prices dropped to fresh five-year lows. A weaker demand forecast from OPEC and a surprise increase in US crude inventories were weighing heavily on oil prices in afternoon trade, with Bren
Read moreWesthouse highlights attractive oil stocks that can weather crude-price falls
21st Nov 2014 11:06
Westhouse Securities has called for investors in the oil and gas sector to be a "bit more patient" with oil prices currently rumbling along at multi-year lows, as it highlighted buying opportunities in the sector. Brent crude has now fallen over 25% to $79 a barrel since hitting a high of $115 a bar
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreThursday broker round-up UPDATE
16th Oct 2014 08:57
Afren: Investec cuts target price from 195p to 120p and reiterates its hold recommendation. Amerisur Resources: Investec lowers target price from 75p to 65p and maintains a buy recommendation. Antofagasta: UBS upgrades from sell to neutral with a target price of 710p. ARM Holdings: Credit Suisse r
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