Faroe Petroleum narrows full-year production forecast

(Reuters) - Faroe Petroleum Plc on Tuesday narrowed its production forecast for the full year, helped by strong performance in the first-half and high-impact exploration activities.

The oil and gas producer, whose primary assets are in Norway, narrowed its 2015 production forecast to 9,000 to 10,000 barrels of oil equivalent per day (boepd) from 8,000 to 10,000 boepd.

Faroe said it has hedged a significant part of its production at an average floor of $60 (£39) to $90 per barrel for oil and 45 to 50 pence per therm for gas.

(Reporting by Aastha Agnihotri in Bengaluru; Editing by Anupama Dwivedi)

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