Faroe Petroleum says 58 pct of 2015 post-tax production hedged

March 24 (Reuters) - Faroe Petroleum Plc (LSE: FPM.L - news) said it has hedged about 58 percent of its 2015 post-tax production and increased its exploration and appraisal capital expenditure.

The oil and gas producer, which has its primary assets in Norway, backed its 2015 production forecast of 8,000 to 10,000 barrels of oil equivalent per day (boepd).

Faroe said it has hedged its 2015 production at an average floor of $89 per barrel for oil and 50 pence per therm for gas.

The company expects pretax exploration and appraisal capital expenditure for 2015 of about 100 million pounds ($149.36 million), higher than the 85 million pounds it spent in 2014. ($1 = 0.6695 pounds) (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anupama Dwivedi)