HIGHLIGHTS SECOND QUARTER
- EBITDA of
USD 21.8 million for the second quarter andUSD 36.5 million for the first-half 2020 - Safeguarding people, operations and assets amid COVID-19 pandemic
- Deferred completion of Tortue Phase 2 wells DTM-6H and DTM-7H due to COVID-19 restrictions to performance of work
- Q2 2020 gross production of 1.455 million barrels or ~16,000 bbls/day gross
- Strong cash position of
USD 127.6 million
EBITDA for the second quarter of 2020 was
Dussafu daily operations continue to perform in line with expectations with four wells (DTM-2H, DTM-3H, DTM-4H and DTM-5H) producing at a current rate of approximately 18,000 bbls/day (gross) of oil to the FPSO BW Adolo.
Gross production from Tortue averaged 15,991 bbls/day for the second quarter of 2020 and total gross production was 1,455,230 bbls of oil. One lifting was completed by
“Our priorities are to keep people safe, maintain stable operations and ensure financial robustness to pursue value-accretive growth opportunities,” says
Total Dussafu production for 2020 is projected to be 15,000 – 16,000 barrels per day (gross) based on four producing wells, compared to 11,800 barrels per day on average in 2019. OPEX per barrel is expected to decrease to approximately
Conference call information:
To dial in to the conference call where the second quarter results and Q&A will be hosted, please dial in to one of the following numbers:
You can also follow the presentation via webcast with supporting slides, available on: https://bwe.eventcdn.net/2020q2/
Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
ir@bwenergy.no
About
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Attachments
- 2020 Q2 Presentation
- 2020 Half-year report
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