Offshore staff
LONDON – UK North Sea independent RockRose Energy says it remains well positioned, despite current oil market uncertainties, with a strong balance sheet and no debt.
The company was listed on the London Stock Exchange in January 2016, when Brent crude traded at less than $30/bbl, and has since focused on being able to operate in a low oil price environment.
It currently anticipates unit operating costs this year off around $30/boe and has hedging in place to support its capex commitments.
RockRose has budgeted spending of around $200 million in 2020, much of it related to the development of the Shell-operated Arran gas/condensate field in the UK central North Sea through the Shearwater platform.
However, the company expects to defer at least $50 million set aside for other programs.
To date precautionary and contingency measures put in place on both its operated and non-operated North Sea field facilities are said to be working well.
No staff at the operated Brae field center currently have symptoms and none are in isolation.
03/26/2020
