Company report
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18 Pages

Cairn Energy corporate report


Cairn Energy corporate report

Report summary

The year 2017 will be a watershed for Cairn, with the expected start-up of two North Sea projects delivering the company’s first production since 2011. Cash on the balance sheet has funded activity over recent years, but new cash flow will support reinvestment in new growth opportunities. But despite the positive outlook, Cairn trades at one the largest discounts in our corporate coverage. In this report we analyse Cairn’s portfolio and consider investor concerns.


What's included?

This report includes 2 file(s)

  • Cairn Energy corporate report PDF - 441.39 KB 18 Pages, 9 Tables, 14 Figures
  • Cairn Energy Corporate report.xls XLS - 3.01 MB

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
    • SWOT analysis
      • Key strategic success factors
  • Valuation
  • Financial health
    • Overview
    • Risk to our base case outlook / options to free up capital
  • Resources, reserves and production
    • Production
    • Reserves and resources
  • Exploration
  • Portfolio summary
    • Timeline
  • Economic assumptions
    • Economic assumptions

In this report there are 23 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Valuation
    • Benchmark: share price performance
    • Market rating to WM base case NPV,10
  • Financial health
    • Cashflow breakevens
    • Net debt outlook and liquidity
    • Capex by development status
    • Pre-FID impact on net debt outlook
  • Resources, reserves and production
    • Cairn forecast production profile
    • Benchmark:- Focused International production
    • Cairn: WM reserves and resources detail
    • Benchmarking: Focused International total resource
  • Exploration
    • WM exploration value creation (Focused International)
    • WM exploration success rate (Focused International)
    • Mature (North Sea)/Barents exploration acreage summary
    • Emerging / frontier / other exploration acreage
  • Portfolio summary
    • Portfolio - overview of key positions
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high and low Brent (nominal terms)
    • High price assumptions
    • Low price assumptions
    • Valuation assumptions
    • Foreign exchange rate assumptions
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