Brief: BW Energy H1 Gross Production At 2.0 Million Barrels

BW Energy

23/08/2023 07:47

Aug 23 (Reuters) - BW Energy Ltd  BWE.OL :
    * H1 2023 GROSS PRODUCTION OF 2.0 MILLION BARRELS WITH 1.5
MILLION
BARRELS NET TO COMPANY
    * OUTLOOK: COMPANY EXPECTS OIL AND GAS TO REMAIN AN
IMPORTANT PART
OF THE GLOBAL ENERGY MIX IN DECADES TO COME AND REMAINS FOCUSED
ON REALISING LONG-TERM VALUE CREATION VIA ITS PHASED DEVELOPMENT
STRATEGY AND INVESTMENTS IN HIGH-RETURN ASSETS
    * OUTLOOK: SHORT-TERM, THE FOCUS IS ON BRINGING THE DUSSAFU
PRODUCTION UP TO 40,000 BARRELS OF OIL AS WELL AS TAKING OVER
THE ASSETS IN BRAZIL
    * DUSSAFU GROSS PRODUCTION MORE THAN DOUBLED IN THE SECOND
QUARTER
VERSUS. THE PREVIOUS THREE MONTHS AS WE MET KEY MILESTONES ON
HIBISCUS / RUCHE DEVELOPMENT WITH TWO WELLS PRODUCING AT THE END
OF THE PERIOD
    * POSITIVE MOMENTUM CONTINUES INTO SECOND HALF WITH A THIRD
WELL
IN PRODUCTION AND START-UP OF ADDITIONAL GAS LIFT CAPACITY TO
SUPPORT OUT FROM TORTUE FIELD IN JULY
    * WE EXPECT TO DELIVER FURTHER GROWTH IN PRODUCTION AND CASH
GENERATION CAPACITY IN COMING QUARTERS AS WE COMPLETE DUSSAFU
DRILLING PROGRAM AND FINALISE FIELD ACQUISITIONS IN BRAZIL

Source text for Eikon:  ID:nGNE5lVRqJ 
Further company coverage:  BWE.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))