Cairn Energy Plc (LON:CNE)Oil & Gas
Cairn Energy was founded in 1980 as an independent oil and gas exploration, development and production company mainly focused on North West Europe, West Africa, and Latin America. Headquartered in the UK and Scotland with two operational offices in London and Mexico, the company is a constituent of FTSE 250 index.
The group has its interest in the UK, Israel, Cote d’lvoire, Mexico and Suriname. The group discovered, developed, and produced oil in many locations across the world, including in the state of Rajasthan in India, which was the largest onshore that contributed more than 30% of India’s crude oil production and generated billions of dollars of revenue for the Indian Government. Cairn got listed on Indian stock exchanges in 2006 as Cairn India limited and it sold majority of shares and returned cash to its shareholders in 2012, which created a high value for its shareholders and other stakeholders. In 1988, the group got listed on the London Stock Exchange.
Cairn Energy aims to maintain flexible and strong balance sheet, invest in the resources that can generate high returns, optimum capital allocation and maintain flexible portfolio, ensure continuous and high cash flow, and return capital to shareholders. Cairn’s business activities are divided into exploration & appraisal, development, and production, which shows the oil & gas life cycle that creates and delivers value to its stakeholders at every steps.
Exploration & appraisal activity comprises of seismic surveying and drilling that focuses on high value with low cost, with optimal development timeline and creates material value for the group. The development step focuses on the explored resources or acquires assets that have attractive opportunities to grow in future or expand the production base and benefit investors and other stakeholders. The production step helps realise value from the development assets that create opportunities for future cash flow to sustain future explorations.
Cairn Energy Plc 50, Lothian Road EDINBURGH, TX EH3 9BY United Kingdom