Cairn Energy plc. is a Scottish oil and gas exploration and production company with headquarters in Edinburgh. It produces around 33,000 barrels of oil a day. It has discovered many oil fields in India in recent years, especially in the Rajasthan region. It is listed on the London Stock Exchange and also listed on the Bombay Stock Exchange.
Cairn Energy plc is a new company having been founded in 1981 by Sir Bill Gammell who is still CEO today (June 2011). It was listed on the LSE in 1988. Cairn really expanded after discovering new oil fields in the Gulf of Mexico and in the Bangladeshi seas.
Cairn mostly operates in India, Bangladesh, Nepal, Greenland and Tunisia.
Takeovers and Mergers
Cairn made a few takeovers to help quickly increase its dominance. In 1994 Cairn took control of Teredo Petroleum and the following year it acquired Holland Sea Search NV, and then in 1996 it took over Command Petroleum.
In 1996 Cairn made a large deal with Halliburton, exchanging 25% of oil production for a 50% investment in drilling in the Sangu field in Bangladesh. In November 2010 Cairn has sold that field to Santos.
- 50 Lothian Road
- Edinburgh EH3 9BY
- Tel: 0131 475 3055
- Fax: 07711 146 068
- Web: www.cairnenergy.com
Cairn Company Registrar
Equiniti are Cairn’s shareholder registrar.
- Equiniti Aspect House
- Spencer Road
- West Sussex BN99 6DA
- Textphone: Freefone 0800 169 6907
- Email: email@example.com
Cairn Dividend Payment
Cairn is one of the few FTSE 100 companies that do not currently pay a dividend to shareholders.