Salamander focuses on Thai fields
- Published: 14 Mar 2013 at 18.42
- Online news:
Salamander Energy Plc (SMDR), a United Kingdom oil explorer active in Asia, said it is focusing on three fields in Thailand and Indonesia as it bolsters production and steps up exploration.
The London-based company said profit margins will rise along with production this year. The company reduced debt and raised cash in a share sale last year to fund its program.
It said operating cash flow per barrel of output climbed to US$40.22 last year compared with $28.56 in 2011. Profit before tax plunged to $10.8 million from $112.6 million a year earlier after the company sold older, less profitable producing assets.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
