Reports

Wintershall Dea Announces Stable Operational Performance for Q1 2023

Published on : 2023-04-26

Wintershall Dea announced a stable operational performance for Q1 2023 when the company’s daily output recorded 318,000 barrels of oil equivalent (boe/d) for the quarter.

The daily production comes on track with the fiscal year (FY) production guidance of 325,000 boe/d to 350,000 boe/d.

The company recorded an adjusted net income of €298 million, up 10% YoY; and Capex of €214 million, 3% higher YoY. Its EBITDAX was €1.14 billion, according to the company’s announcement.

The company made a free cash flow of €164 million, due to a softer commodity price environment and higher tax payments in Norway on the back of strong earnings in 2022. Additionally, the company achieved cash and cash equivalents of €2.93 billion.

Wintershall Dea announced a net debt of €1.52 billion, leverage of 0.27x, and reemphasized its decision to fully exit Russia in an orderly manner complying with all applicable laws and regulations announced and asserted that implementation started.

Related Articles

20 Countries With The Largest Natural Gas Reserves in 2023

In this piece, we will take a look at the 20 countries with the largest natural gas reserves in 2023.

Read More

Egypt may stop LNG exports, tightening EU supply – experts

Europe gas balance may tighten this winter due to turmoil in the Middle East as Egypt is expected to stop LNG exports amid lower supply from Israel and lower domestic production, experts said this week.

Read More

Western Companies Look To Grow Influence In Egyptian Oil And Gas

Given the enormous ground that the U.S. literally and metaphorically lost in the Middle East in recent years, any strategy it attempted to regain some or all its previous influence across the region had to be clever, concerted, and multi-layered, and so it is transpiring to be

Read More
Wintershall Deaneptune LogoSIEnppipetrojetTransGlobe SCHNEIDER-ELECTRIChempleEgypt gasNorthAlmansooriSKY CTS exxonmobilSchlumbergerhttps://www.shell.com/GascoCPCAlmansoori