Orcadian Energy (LON:ORCA) Releases Quarterly Earnings Results

Orcadian Energy (LON:ORCA) issued its earnings results on Friday. The company reported GBX (1.12) EPS for the quarter, Digital Look Earnings reports. Orcadian Energy had a negative net margin of 925.42% and a negative return on equity of 49.59%.

Orcadian Energy Stock Performance

LON:ORCA opened at GBX 13.50 on Friday. The business’s fifty day moving average price is GBX 14.04 and its 200 day moving average price is GBX 11.13. The company has a debt-to-equity ratio of 47.53, a current ratio of 0.10 and a quick ratio of 3.06. The firm has a market capitalization of £10.67 million, a PE ratio of -11.25 and a beta of -2.29. Orcadian Energy has a 12 month low of GBX 8 and a 12 month high of GBX 17.

Orcadian Energy Company Profile

Orcadian’s strategy is to secure discovered resources at low cost and to transform those resources into reserves and onto production

The Pilot field is our key asset. The field is well appraised and ready for development, Orcadian has selected, as the very best development concept, a low salinity polymer flood with two wellhead platforms, a dedicated FPSO, and a floating wind turbine.

Pilot is very well appraised with high quality modern 3D seismic and seven reservoir penetrations. The field has 79mmbbls of proven plus probable reserves, based upon the low salinity polymer flood development plan described in the concept select report submitted to the OGA in September of 2020.