Edition:
United Kingdom

OKEA Q2 EBITDA Swings To Profit Of NOK 594 Million


Wednesday, 17 Jul 2019 

July 17 (Reuters) - Okea ASA ::SECOND QUARTER 2019 RESULTS.Q2 OPERATIONAL PERFORMANCE WAS SOLID WITH A NET PRODUCTION OF ABOVE 20 000 BOEPD AND EBITDA OF NOK 594 MILLION.TOTAL OPERATING INCOME IN QUARTER WAS NOK 1 039 MILLION.PROFIT FROM OPERATING ACTIVITIES IN QUARTER WAS NOK 367 MILLION.OKEA PRODUCED 20 045 BOEPD IN Q2 2019, UP FROM 358 BOEPD IN Q2 2018.OKEA'S AMBITION IS TO SIGNIFICANTLY LIFT NEAR-TERM PRODUCTION. IN Q4, WE WILL DRILL AN INFILL PILOT WELL AT DRAUGEN AND AN EXPLORATION WELL IN "SKUMNISSE" PROSPECT NORTH-EAST OF DRAUGEN - CEO.FIELD DEVELOPMENT AT YME IS PROGRESSING AS PLANNED AND REMAINS ON TRACK TOWARDS FIRST OIL IN H1 2020 AND P1 DEVELOPMENT PLAN ON GJØA HAS BEEN APPROVED AND PRODUCTION START IS EXPECTED LATE 2020 - CEO. 

Company Quote

19.55
-0.45 -2.25%
23 Aug 2019