IN BRIEF: Rockhopper swings to loss as hails progress on Sea Lion
Rockhopper Exploration PLC - Salisbury, England-based oil and gas miner - Swings to pretax loss of $51.4 million in the first half of 2025 from a profit of $78.2 million a year ago. Reports other costs of $46.4 million, compared to other income of $79.8 million. Further, notes other expenses of $5.3 million compared to none a year ago. The company emphasises that the final investment decision for Sea Lion Phase 1 development offshore to the north of the Falkland Islands is pending. Chief Executive Officer Samuel Moody says: ‘This has been a transformative period for Rockhopper and the last few months have seen an acceleration of progress towards final investment decision. A financing plan is in place for which we have secured our base equity requirement and the potential value to all stakeholders is independently confirmed.’ The company targets production to peak at 55,000 barrels per day at Sea Lion.
Current stock price: 75.20 pence each, up 2.7% on Monday afternoon in London
12-month change: up sharply from 14.25p each on September 30, 2024
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