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Cairn Energy Update
Cairn Energy Update Producer, developer, explorer Oil & gas 24 July 2017 We refresh our view on Cairn Energy, focusing on key areas of interest for investors already familiar with the company. We examine a number of Price 174.7p valuation approaches for SNE in Senegal, the potential for reserve Market cap £1019m upgrades and exploration value. We believe SNE is an outsized asset and £0.8/US$ assume Cairn seeks to farm-down. This will naturally affect long-term Net cash ($m) at 31 December 2016 335 value upside, but would in our view drive a better balance of asset and Shares in issue 583.2m financial risk. We also examine features of Catcher, Cairn’s cost of capital and look at the Indian tax dispute. After a long period of value stagnation Free float 96% (as cash was invested to develop Catcher/Kraken), coming years could be Code CNE a time when investors see a path to this investment steadily bearing fruit. Primary exchange LSE Our core contingent NAV is 225p/share and our RENAV is 255p/share. Secondary exchange N/A (US$m) Operating Cash from Share price performance Year end Revenues PBT cash flow Net cash financing 12/15 0 (498) (16) 603 (6) 12/16 0 (152) (21) 335 (4) 12/17e 59 (792) (21) 18 0 12/18e 402 107 226 98 0 Note: Figures are as reported. SNE reserves upgrades hinge on upper reservoir The recent SNE-6 well test appeared to show strong connectivity between wells in the upper reservoirs, going some way to settle concerns that the pressure declines % 1m 3m 12m seen in past well testing would be major obstacles to recovery. -
Parker Review
Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people. -
Technical Programme
DAY ONE TUESDAY 23 NOVEMBER 2021 TECHNICAL PROGRAMME 08:30 - 09:30 Conference, Exhibition and Registration Open 09:30 - 10:00 Keynote Address: Phil Kirk | Harbour Energy AUDITORIUM 10:00 - 10:30 Keynote Address: TotalEnergies Exploration for the Future | Emmanuelle Garinet, TotalEnergies 10:30 - 11:15 | Refreshment Break & Exploring the Exhibition Exploration: UK Multi-azimuth seismic Machine Learning / Digital A Pressure Cell Summary of the Highly Multi-azimuth Acquisition and High- Mining Data at Scale Using Deep Prospective Central North Sea HPHT resolution Model Building and Imaging Learning 11:15 - 11:45 Domain from Shallow to Deep Reservoir - A Case Chin Hang Lun, CGG Eva Zimmer, Oil & Gas Authority Study from Offshore Morocco Andrew Furber, WesternGeco Revealing the Zechstein Potential of the Improved Imaging Of The Marte Leveraging Supervised Machine Mid North Sea High, UK Reservoir With A Multi Azimuth Q-FWI Learning for Rapid Lithology Prediction 11:45 - 12:15 Neil Hurst, ION Model Rebecca Head, Halliburton John Northall, BP HALL 1 HALL 2 HALL 3 Characterising Basement and Calibrating A Novel and Efficient Multi-azimuth Petrographic Thin Section Analysis with Thermal History to Further the Towed-streamer Solution to Address Machine Learning Understanding of Petroleum Systems in Complex Illumination Challenges, Edward Jarvis, CGG 12:15 - 12:45 the Faroe-Shetland Basin Established in the Viking Graben, North Julian Moore, Applied Petroleum Sea Technology Julien Oukili, PGS 12:45 - 13:45 | Lunch & Exploring the Exhibition Exploration: -
Cgg Financial Presentation March 2021
CGG FINANCIAL PRESENTATION MARCH 2021 cgg.com Agenda 01 COMPANY OVERVIEW 02 BUSINESS HIGHLIGHTS 03 FINANCIAL REVIEW 04 CONCLUSION cgg.com 2 SECTION 1: COMPANY OVERVIEW 3 cgg.com 3 CGG: A People, Data and Technology Company Asset Light Company… …With Three Core Businesses (1) GGR Leveraging Exceptional People… Geoscience #1 in technology Breadth and depth of expertise Established market and technology 34% driving innovation and providing leader in subsurface imaging, #1 market share (2) outstanding service geology, geoscience software and services of 41% …Differentiated Data… Multi-Client #1 in technology Maximizing the value of data through One of the industry’s most technically advanced seismic data and geologic and 3D coverage our expertise and technologies 36% studies providers in the world’s key 24% market share (2) prolific hydrocarbon basins …And Remarkable Technology Equipment #1 in technology 30% Leading the industry in advanced Established market and technology imaging and geoscience leader in marine, land, ocean floor #1 market share (2) & digital technologies and downhole seismic equipment and of 46% gauges Sources: Company information, Select Broker research Notes: (1) Pie charts indicate % share of 2020 Segment Revenue (2) CGG market share against competitors for 2020, as per Company estimates 4 Delivered on Promises to the Market Promises to the Market… …CGG Delivered . Cease to operate vessels by Marine partnership with Shearwater closed on Marine 2021 8 January 2020 . Wind down land acquisition Last crew stopped in early February 2020 Land operations . Sell out of Multi-Physics Sale to Xcalibur Group announced in August 2020 Multi-Physics business Seabed . Exit Seabed operations Exit from Seabed data acquisition on 30 December 2019 Streamlined Headcount decreased by 750 employees and cash costs . -
E-Learning Most Socially Active Professionals
The World’s Most Socially Active Oil & Energy Professionals – September 2020 Position Company Name LinkedIN URL Location Size No. Employees on LinkedIn No. Employees Shared (Last 30 Days) % Shared (Last 30 Days) 1 Rystad Energy https://www.linkedin.com/company/572589 Norway 201-500 282 87 30.85% 2 Comerc Energia https://www.linkedin.com/company/2023479 Brazil 201-500 327 89 27.22% 3 International Energy Agency (IEA) https://www.linkedin.com/company/26952 France 201-500 426 113 26.53% 4 Tecnogera Geradores https://www.linkedin.com/company/2679062 Brazil 201-500 211 52 24.64% 5 Cenit Transporte y Logística de Hidrocarburos https://www.linkedin.com/company/3021697 Colombia 201-500 376 92 24.47% 6 Moove https://www.linkedin.com/company/12603739 Brazil 501-1000 250 59 23.60% 7 Evida https://www.linkedin.com/company/15252384 Denmark 201-500 246 57 23.17% 8 Dragon Products Ltd https://www.linkedin.com/company/9067234 United States 1001-5000 350 79 22.57% 9 Kenter https://www.linkedin.com/company/10576847 Netherlands 201-500 246 54 21.95% 10 Repower Italia https://www.linkedin.com/company/945861 Italy 501-1000 444 96 21.62% 11 Trident Energy https://www.linkedin.com/company/11079195 United Kingdom 201-500 283 60 21.20% 12 Odfjell Well Services https://www.linkedin.com/company/9363412 Norway 501-1000 250 52 20.80% 13 XM Filial de ISA https://www.linkedin.com/company/2570688 Colombia 201-500 229 47 20.52% 14 Energi Fyn https://www.linkedin.com/company/1653081 Denmark 201-500 219 44 20.09% 15 Society of Petroleum Engineers International https://www.linkedin.com/company/23356 United States 201-500 1,477 294 19.91% 16 Votorantim Energia https://www.linkedin.com/company/3264372 Brazil 201-500 443 86 19.41% 17 TGT Oilfield Services https://www.linkedin.com/company/1360433 United Arab Emirates201-500 203 38 18.72% 18 Motrice Soluções em Energia https://www.linkedin.com/company/11355976 Brazil 201-500 214 40 18.69% 19 GranIHC Services S.A. -
Speaker Bios
Safety30 Speaker Bios Matt Abraham HSE Director, Oil & Gas UK No bio Rebecca Allison Asset Integrity Solutions Centre Manager, The Oil & Gas Technology Centre Rebecca is a highly driven and motivated Senior Manager with more than 20 years of experience in the oil and gas sector working for various service companies such as Lloyd’s Register, Aker Solutions and Stork. As manager of the Asset Integrity Solution Centre within the Oil & Gas Technology Centre, Rebecca is responsible for leading the Asset Integrity team to identify and appraise the relevance, readiness and accessibility of existing technology in the market place to meet mature basin asset integrity challenges. She is specifically charged with identifying specific technology gaps that remain in asset integrity through designing and delivering programmes to resolve these gaps. Mario Alonso Digital Solutions Product Leader - Subsea Production Systems & Service, Baker Hughes, a GE Company Mario is a digital solutions product leader at Baker Hugues, a GE Business. He is responsible for the digital solutions portfolio within Subsea Production Systems and Services, and has been focused on development of digital analytics applications for the last 13+ years. Mario has an engineering background and hold a PhD in Multi-Phase Fluid Dynamics. He is a chartered engineer and member of the Institution of Mechanical Engineers. Zev Arnold Executive, Accenture Zev is an executive in Accenture's Industry X.0 Practice and a real-time applications practitioner. In his career, he has helped his clients make improvements in operational performance and integrity, and helped secure their license to operate. He has specialized in real-time infrastructure and analytics, working with the Integrated Operations initiatives of several multinational oil and gas operating companies. -
Corporate Update January 2021 Pharos Energy / 2 Disclaimer
Pharos Energy Corporate Update January 2021 Pharos Energy / 2 Disclaimer This presentation has been prepared by Pharos Energy Plc. The presentation does not purport to The Group undertakes no obligation to revise any such forward-looking statements to reflect any be comprehensive and has not been fully verified nor will it be subject to material updating, changes in the Group’s expectations or any change in circumstances, events or the Group’s plans revision or further amendment. The presentation has been provided for information purposes only. and strategy. Accordingly, no reliance may be placed on the figures contained in such forward- looking statements. Forward-looking statements are not guarantees or representations of future Nothing in this presentation or in any accompanying management discussion of this presentation performance. Similarly, past share performance cannot be relied on as a guide to future constitutes, nor is it intended to constitute: (i) an invitation or inducement to engage in any performance. Even if the Group’s results of operations, financial and market conditions, and the investment activity, whether in the United Kingdom or in any other jurisdiction; (ii) any development of the industry in which the Group operates, are consistent with the forward-looking recommendation or advice in respect of the ordinary shares (the Shares) in Pharos Energy plc or statements contained in the presentation, those results, conditions or developments may not be the group of companies of which it is the ultimate holding company (together the Group); or (iii) indicative of results, conditions or developments in subsequent periods. any offer for the sale, purchase or subscription of any Shares. -
Non-Executive Director PROGRAMME
Non-Executive Director PROGRAMME THE 2018 NON-EXECUTIVE DEVELOPMENT PROGRAMME A practical series covering key NXD issues led by experienced Chairs and NXDs EXECUTIVE SEARCH THE UNIVERSITY OF EDINBURGH BUSINESS SCHOOL | FWB PARK BROWN 1 Contents Introduction ...................................................................................................................1 Session 1: The Audit Committee and Boardroom Dynamics ...................................................................2 Session 2: The CEO–Chair Relationship..................................................................................................3 Session 3: The Challenges for Smaller and Faster Growth Companies from an NXD Perspective ..........4 Session 4: The Remuneration and Nominations Committees ..................................................................5 Programme Directors .............................................................................................7 2NON-EXECUTIVE NON-EXECUTIVE DIRECTOR DIRECTOR PROGRAMME PROGRAMME I am already pencilling into my budget to attend other sessions” – A 2017 Delegate Introduction FWB Park Brown and The As the responsibilities and accountabilities of NXDs intensify, University of Edinburgh so the support, knowledge and experience required of them Business School are delighted also increase. We have designed a practical programme, to announce the second led by experienced Chairs and NXDs, focussing on those key series of The Non-Executive issues of which every NXD should be aware and catering for -
UKCS Technology Insights
UKCS Technology Insights April 2019 Unless identified elsewhere, all data is from the OGA UKSS 2017 and 2018 Cover photos: High frequency FWI image – courtesy of DownUnder Geosolutions using Capreolus 3D data from TGS Ocean bottom nodes – courtesy of Magseis Fairfield Riserless mud recovery – courtesy of Enhanced Drilling Carbon composite pipe – courtesy of Magma Global Contents Foreword 5 1. Seismic and exploration 22 Executive summary 6 2. Well drilling and completions 28 Operators’ technology plans 8 3. Subsea systems 34 Existing technologies for MER UK 12 4. Installations and topsides 40 Emerging technologies – MER UK priorities 14 5. Reservoir and well management 46 OGA’s technology stewardship 16 6. Facilities management 52 The Oil & Gas Technology Centre (OGTC) 18 7. Well plugging and abandonment 58 Technology plan feedback 21 8. Facilities decommissioning 64 Conclusions 70 Appendix - Technology spend 72 Image courtesy of Airbourne Oil & Gas Foreword I am pleased to see constant progress in the way our industry is OGTC, MER UK Taskforces and industry sponsors. A small maturing and deploying new technologies for the UK Continental technical team will be established to measure progress on all key Shelf (UKCS). This important effort is being supported by the objectives. Ultimately, these objectives will be followed up and coordinated work of the Oil and Gas Authority (OGA), the monitored through the OGA stewardship to further encourage Technology Leadership Board (TLB) and the Oil & Gas Technology uptake and share best practice. Centre (OGTC). There are huge prizes in reserves growth, production value and, This year’s Technology Insights summarises the rich content of most importantly, safe asset operation and life extension from the UKCS operators’ technology plans, submitted through the OGA use of current and new technologies. -
Sustainable Investment Report Second Quarter 2020
Sustainable Investment Report Second quarter 2020 For Financial Intermediary, Institutional and Consultant Use Only. Not for redistribution under any circumstances. Contents 1 12 Introduction Stewardship Insights Is the time ripe for virtual AGMs? Engagement in practice: Barclays’ climate shareholder resolution Engagement in practice: Contributing to influencing the boards of big banks Engagement in practice: Drax’s transition to cleaner power 2 17 Sustainability Insights Stewardship Activity A new social contract – how are Engagement in numbers companies treating their employees as the Covid-19 crisis unfolds? Voting in numbers Keeping food on the table during Total company engagement Covid-19, but at what cost? Engagement progress Will Covid-19 prove a pivotal moment for climate change? How climate change may impact financial markets As we begin the process of unwinding global lockdown, the inevitable scrutiny of what we could have done better is underway. There are plenty of ways we can learn from the crisis and perhaps when the anticipated second wave comes, we will be better prepared. Sustainable investing has been under the spotlight throughout the crisis; we now look to what this might mean in a post- Covid-19 world. Hannah Simons Head of Sustainability Strategy For many people, sustainable investment has historically focused In a Q&A with two of our economists, Craig Botham and Irene on environmental considerations. The crisis has seen a rise in the Lauro, we also unveil our latest long-term market forecasts, which focus on the ‘S’ part of ESG. We’ve long argued that companies for the first time incorporate the impact of climate change. -
Producing Results
producing results Annual Report and Accounts 2008 WorldReginfo - a0ccc23f-15ea-478f-80e6-f06799ba3abe results we’re proud of... Dana Petroleum plc is a leading British independent oil company, committed to maximising shareholder value through the creation and execution of high impact opportunities. Contents 1 Highlights 36 Directors’ report and accounts 2 Chairman and Chief 114 Proven and probable reserves Executive’s statement and resources 6 Business review 115 Exploration and production 32 Directors and officers interests as at 31 December 2008 WorldReginfo - a0ccc23f-15ea-478f-80e6-f06799ba3abe Highlights Production 39,365boepd up 29% Revenue £518.0m up 66% Pre-tax profit £191.4m up 34% Earnings per share 111.13p up 51% Cashflow from operations £345.0m up 75% WorldReginfo - a0ccc23f-15ea-478f-80e6-f06799ba3abe 1 Dana Petroleum plc Annual Report 2008 Chairman and Chief Executive’s statement Dear Shareholder It is extremely pleasing to report that excellent progress has been made across all key areas of the Company’s business during 2008. Despite the extremely difficult global economic conditions now prevailing, which have resulted in an unprecedented and rapid deterioration of the oil price over recent months, Dana delivered record profits and earnings per share for the full year. 2008 also saw the achievement of new record highs in oil and gas reserves, production, revenue and cash flow. Dana has developed a strong and balanced asset base combining healthy cash reserves, a robust production portfolio delivering strong cash flow, a range of development opportunities and an extensive and exciting exploration programme. 2008 was Tom Cross, Chief Executive the most active year of exploration in Dana’s history with 11 wells completed during the year, including notable successes in the North Sea and the Nile Delta, with a further four wells being drilled at the year end. -
Euro Stoxx® Total Market Index
EURO STOXX® TOTAL MARKET INDEX Components1 Company Supersector Country Weight (%) ASML HLDG Technology Netherlands 4.29 LVMH MOET HENNESSY Consumer Products & Services France 3.27 SAP Technology Germany 2.34 LINDE Chemicals Germany 2.26 TOTALENERGIES Energy France 1.89 SANOFI Health Care France 1.82 SIEMENS Industrial Goods & Services Germany 1.81 L'OREAL Consumer Products & Services France 1.73 ALLIANZ Insurance Germany 1.62 SCHNEIDER ELECTRIC Industrial Goods & Services France 1.35 AIR LIQUIDE Chemicals France 1.24 AIRBUS Industrial Goods & Services France 1.19 DAIMLER Automobiles & Parts Germany 1.17 IBERDROLA Utilities Spain 1.14 ENEL Utilities Italy 1.13 BNP PARIBAS Banks France 1.12 BASF Chemicals Germany 1.08 DEUTSCHE TELEKOM Telecommunications Germany 1.03 BCO SANTANDER Banks Spain 1.03 VINCI Construction & Materials France 1.01 DEUTSCHE POST Industrial Goods & Services Germany 1.01 Kering Retail France 1.00 ADYEN Industrial Goods & Services Netherlands 0.98 ANHEUSER-BUSCH INBEV Food, Beverage & Tobacco Belgium 0.97 ADIDAS Consumer Products & Services Germany 0.97 BAYER Health Care Germany 0.94 SAFRAN Industrial Goods & Services France 0.86 AXA Insurance France 0.83 ESSILORLUXOTTICA Health Care France 0.81 INTESA SANPAOLO Banks Italy 0.78 ING GRP Banks Netherlands 0.77 HERMES INTERNATIONAL Consumer Products & Services France 0.77 INFINEON TECHNOLOGIES Technology Germany 0.77 VOLKSWAGEN PREF Automobiles & Parts Germany 0.72 PHILIPS Health Care Netherlands 0.71 DANONE Food, Beverage & Tobacco France 0.69 Prosus Technology Netherlands