EDINBURGH (dpa-AFX) - Cairn Energy Plc (CNE.L) reported a loss before tax from continuing operations of $284.4 million for the six months ended 30 June 2020 compared to profit of $73.2 million, prior year. Loss per share from continuing operations in cents was 48.84 compared to profit of 12.45. Impairment charge was approximately $240 million for the period, with $207 million against Senegal assets and $33 million against UK producing assets.
First half revenue declined to $214.9 million from $270.3 million, last year. Oil and gas sales revenue was $172 million, for the first half period. oil production averaged approximately 22,400 bopd, at top end of full year guidance.
Looking forward, the Group has narrowed its full year production guidance to 21,000 to 23,000 bopd from 19,000 - 23,000 bopd previously.
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