January 31, 2020 / 7:09 AM / 22 days ago

RPT-Lundin Petroleum raises output forecast after Q4 profit beat

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OSLO, Jan 31 (Reuters) - Sweden’s Lundin Petroleum , a partner in Norway’s giant Sverdrup oilfield, increased its dividend payment and raised output expectations, the company said on Friday after fourth-quarter profits grew more than forecast.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $695.5 million in the fourth quarter from $480.7 million a year earlier as Sverdrup came on stream, beating a mean estimate of $613.2 million in a Refinitiv poll. (Reporting by Terje Solsvik Editing by Shri Navaratnam)

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