| Market cap (m) | £662.4 |
| Enterprise value (m) | £673.2 |
Rockhopper Exploration PLC is an oil and gas exploration and production company operating in the United Kingdom. It is engaged in the exploration, appraisal, and development of its oil and gas acreage. The company holds a working interest in various North Falkland Basin licences. The group's operations are made up of two segments: the oil and gas exploration and production activities in the geographical regions of the Falkland Islands and its corporate activities, mainly centred in the UK.
Last Updated: 26/05/2026
Navitas, operator of Sea Lion, is relocating Aoka Mizu FPSO upgrade work from the Middle East to Asia due to conflict in Iran, adding about USD45 million to the development budget and USD5.3 million to Rockhopper’s equity costs. Rockhopper reports phase 1 remains funded. Development activities in the Falklands have begun, with long’lead items in manufacture.
Navitas signed an MoU to obtain an additional FPSO that could lift Sea Lion capacity by 125,000 bopd, with 43,750 bopd net to Rockhopper, alongside Aoka Mizu’s 55,000 bopd (19,250 bopd net). Drilling and completion are scheduled to start at the beginning of 2027, with first oil expected in the first half of 2028.