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United Kingdom

Oil firm DNO'S Q1 earnings lag forecast


Thursday, 26 Apr 2018 

April 26 (Reuters) - DNO Asa ::DNO EXPANDS AND ACCELERATES KURDISTAN OPERATIONS WHILE BUILDING UP NORTH SEA EXPOSURE; REPORTS ROBUST FIRST QUARTER 2018 RESULTS.DNO Q1 REVENUE $142 MILLION (REUTERS POLL $138 MILLION).EXITED QUARTER WITH CASH BALANCES OF USD 518 MILLION PLUS USD 76 MILLION IN TREASURY SHARES AND MARKETABLE SECURITIES.DNO Q1 OPERATING RESULT $25 MILLION (REUTERS POLL $55 MILLION).DNO Q1 NET RESULT $18.4 MILLION (REUTERS POLL $47 MILLION).DNO Q1 WORKING INTEREST PRODUCTION 79,100 BOEPD (REUTERS POLL 79,918 BOEPD).SAYS ACTIVELY PURSUING ADDITIONAL EXPOSURE TO NORWEGIAN CONTINENTAL SHELF, INCLUDING EXPLORATION, DEVELOPMENT AND PRODUCTION ASSETS.SAYS HAS 28.71 PERCENT OF FAROE PETROLEUM <<>>. 

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