Brief: Total Gabon Q1 Revenues Down At 113 Millions Dollars

TotalEnergies EP Gabon

29/05/2020 18:01

May 29 (Reuters) - TOTAL GABON SA  EGAB.PA :
    * Q1 2020 RESULTS
    * Q1 CRUDE OIL PRODUCTION FROM FIELDS OPERATED BY TOTAL
GABON 21.7
KB/DAY VERSUS 22.8 KB/DAY YEAR AGO
    * Q1 REVENUES AMOUNTED TO $113 MILLION, DOWN 31% COMPARED TO
THE
FIRST QUARTER 2019
    * Q1 CRUDE OIL PRODUCTION FROM TOTAL GABON INTERESTS 27.9
KB/DAY
VERSUS 31.9 KB/DAY YEAR AGO
    * CASH FLOW FROM OPERATIONS OF $55 MILLION IS SIGNIFICANTLY
LOWER
THAN Q1 2019, PRIMARILY DUE TO THE CONTINUED DECLINE IN SELLING
PRICES OVER THE QUARTER
    * BOARD OF DIRECTORS TO RECOMMEND PAYMENT OF  DIVIDEND OF
$11 PER
SHARE, SAME AS PREVIOUS YEAR, FOR TOTAL PAYOUT OF $49.5 MILLION
    * Q1 NET LOSS $8 MILLION VERSUS PROFIT $10 MILLION YEAR AGO
    * Q1 AVERAGE TOTAL GABON CRUDE PRICE PER BARREL USD 40.6
VERSUS
USD 57.7 YEAR AGO
    * OIL AND GAS INVESTMENTS TOTALED $11 MILLION, A SIGNIFICANT
DECREASE COMPARED TO Q1 2019
    * Q1 SALES VOLUME 2.34 MILLION BARRELS VERSUS 2.52 MILLION
BARRELS
YEAR AGO

Source text: shorturl.at/dOTV2 
Further company coverage:  EGAB.PA 

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