Orcadian Energy Plc (LON:ORCA – Get Free Report) shares shot up 14.3% on Wednesday. The stock traded as high as GBX 17 and last traded at GBX 16. Approximately 423,838 shares traded hands during mid-day trading, an increase of 165% from the average daily volume of 160,121 shares. The stock had previously closed at GBX 14.
Orcadian Energy Stock Performance
The firm has a market cap of £12.84 million, a P/E ratio of -13.91 and a beta of -2.29. The company has a debt-to-equity ratio of 172.81, a quick ratio of 3.06 and a current ratio of 0.12. The stock’s 50-day moving average is GBX 15.83 and its 200 day moving average is GBX 15.08.
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.
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