Cairn Energy (CNE.L, CNE LN)
Cairn Energy is a UK-listed oil and gas company with assets along the North Atlantic Margin and in the Mediterranean. Along the North Atlantic Margin, Cairn Energy is active offshore north-west Africa, offshore Ireland, and has the single largest acreage position offshore Greenland. Cairn also has a substantial presence offshore Spain with four blocks in the Gulf of Valencia and is looking at other opportunities in the Mediterranean. Balancing the high-risk exploration endeavours along the Atlantic Margin and in the Mediterranean, Cairn Energy has built a position in the relatively mature North Sea through the acquisitions of Agora Oil & Gas and Nautical Petroleum. These acquisitions give Cairn a 20% stake in the Catcher area, one of the most significant discoveries on the UK Continental Shelf in recent years, as well as exposure to moderate risk exploration and appraisal plays in UK and Norwegian sectors of the North Sea. Cairn also holds a residual, minority stake (10%) in Cairn India. Cairn India is listed on the Bombay Stock Exchange and has licences in India and Sri Lanka. Cairn India is India's largest private independent oil and gas E&P company with over 1 billion boe of gross proved and probable reserves and resources and 211,671 boepd of average operated production in FY2015.
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