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About Erin Energy
Its shares trade under the ticker ERINQ. It has been listed since 8 February 1995. In the fiscal year to 31 December 2017, it reported revenue of $101.2m and a net loss of $151.9m. At that date it held total assets of $251.1m and shareholders' equity of −$363.4m.
Erin Energy Corp. engages in the exploration, development, and production of oil and gas properties. The company is headquartered in Houston, Texas. The firm is focused on energy resources in Africa. The company is focused on exploration for and production of hydrocarbons where commercial reserves have been found and developed. As of December 31, 2016, the Company's asset portfolio consisted of seven licenses across four countries covering an area of approximately five million acres (approximately 19,000 square kilometers). The firm's geographical segments include Nigeria, Kenya, The Gambia and Ghana. The firm owns producing properties and conducts exploration activities offshore Nigeria, conducts exploration activities offshore Ghana and The Gambia, and onshore Kenya. The firm has 100% interest in Oil Mining Leases 120 and 121; four Production Sharing Contracts in the Lamu Basin of Kenya; two exploration licenses offshore The Gambia, and interest in Expanded Shallow Water Tano (ESWT) block offshore Ghana.
Figures and description from our data supplier, not checked against the company's own report.
Company facts
- Sector
- Energy
- Industry
- Oil, Gas & Consumable Fuels
- Listed since
- 8 Feb 1995
- Employees
- 61
- Website
- erinenergy.com ↗
Leadership
Pay as last reported
- Mr. Sakiru Adefemi AyoadeChief Executive Officer, Director, since 2017$574,775
- Ms. Heidi WongSenior Vice President, Corporate Services and Assistant Corporate Secretary$624,240
- Mr. Abdsulsabur BelloVice President - Financial Planning and Treasurer$222,432
- Dr. John RudleyIndependent Director$148,731
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 17
- Environment
- 18
- Social
- 15
- Governance
- 18
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Erin Energy Corp has a strong foundation and presence in the energy sector, which provides it with valuable experience, knowledge, and relationships within the industry. This allows the company to leverage its expertise and navigate market conditions effectively.
- The company possesses a diverse portfolio of oil and gas assets, spread across various regions. This diversification minimizes risks associated with localized disruptions, provides access to different markets, and enables Erin Energy Corp to capture opportunities across multiple geographies.
- Erin Energy Corp boasts a strong financial position, with healthy cash flows and a solid balance sheet. This financial stability allows the company to invest in exploration, development, and expansion activities, ensuring its long-term sustainability in the industry.
Weaknesses
- As a player in the oil and gas sector, Erin Energy Corp is exposed to the inherent volatility of commodity prices. Fluctuations in oil and gas prices can significantly impact the company's profitability and financial performance, making it vulnerable to market dynamics.
- While Erin Energy Corp operates in multiple regions, it faces competition from well-established energy companies with larger market shares. The company's limited market share poses challenges in terms of capturing a larger customer base and achieving economies of scale.
Opportunities
- Erin Energy Corp has an opportunity to explore and develop untapped oil and gas resources in regions with high potential. This can lead to the discovery of new reserves, providing a significant boost to the company's asset base and future revenue streams.
- The increasing global energy demand presents an opportunity for Erin Energy Corp to capitalize on rising consumption. By strategically positioning itself and aligning its operations with growing energy markets, the company can expand its customer base and drive revenue growth.
Threats
- The energy sector is subject to stringent regulations and environmental concerns. Compliance with evolving regulations and managing potential environmental risks pose challenges for Erin Energy Corp, which could lead to increased costs and potential reputational damage.
- Global geopolitical uncertainties, such as political instability, conflicts, and trade disputes, can impact the oil and gas industry. Erin Energy Corp may face challenges related to resource access, uncertain investment climates, and geopolitical risks that could disrupt its operations.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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