Aker BP: Fourth quarter 2024 trading update

Rhea-AI Summary

Aker BP has released its preliminary Q4 2024 production and sales figures. The company's equity production averaged 449.2 thousand barrels of oil equivalent per day (mboepd) for the quarter, with net sales volume of 439.2 mboepd due to underlift. For the full year 2024, production averaged 439 mboepd, reaching the higher end of the guided range of 430-440 mboepd.

The company's Q4 realized prices were $74.1/boe for liquids and $79.0/boe for natural gas. The quarterly production mix included 373.5 mboepd of liquids and 65.7 mboepd of natural gas. Aker BP will publish its complete Q4 2024 report and annual strategy update on February 12, 2025.

Positive

• Q4 2024 equity production increased to 449.2 mboepd from 414.7 mboepd in Q3
• Full-year 2024 production of 439 mboepd reached high end of guidance range
• Natural gas realized prices improved to $79.0/boe in Q4 from $63.5/boe in Q3

Negative

• Q4 liquids realized prices decreased to $74.1/boe from $80.3/boe in Q3
• Underlift of 10.1 mboepd in Q4 reduced actual sales volumes

LYSAKER, Norway, Jan. 16, 2025 /PRNewswire/ -- Aker BP (OSE: AKRBP) will publish its report for the fourth quarter of 2024 and provide its annual strategy update on 12 February 2025. Today, the company provides preliminary production and sales figures for the quarter and the full year. 

Quarterly production: The company's equity production for the quarter averaged 449.2 thousand barrels of oil equivalent per day (mboepd). Due to underlift, the net volume sold during the quarter was 439.2 mboepd.

Annual production: For the full year 2024, equity production averaged 439 mboepd, close to the high end of the guided range of 430-440 mboepd.

Volume (mboepd)	Q4-24	Q3-24	FY 2024
Net production	449.2	414.7	439.0
Overlift/(underlift)	(10.1)	(23.4)	(9.0)
Net volume sold	439.2	391.3	430.0
Of which liquids	373.5	345.0	370.2
Of which natural gas	65.7	46.4	59.8
.
Realised prices (USD/boe)	Q4-24	Q3-24	FY 2024
Liquids	74.1	80.3	80.1
Natural gas	79.0	63.5	62.9

The company will release its report for the fourth quarter of 2024 on Wednesday, 12 February 2025, at 06:00 CET. On the same day at 08:30 CET, the management will present the results and provide its annual strategy update via a webcast, available on www.akerbp.com/en. The presentation will be followed by an online Q&A session.

Contacts:
Kjetil Bakken, Head of IR, tel.: +47 918 89 889
Carl Christian Bachke, IR Officer, tel.: +47 909 80 848
Martin Seland Simensen, IR Officer, tel.: +47 416 92 087

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/aker-bp-asa/r/aker-bp--fourth-quarter-2024-trading-update,c4091230

The following files are available for download:

https://mb.cision.com/Main/1629/4091230/3206894.pdf

Release

 

View original content:https://www.prnewswire.com/news-releases/aker-bp-fourth-quarter-2024-trading-update-302352801.html

SOURCE Aker BP ASA

FAQ

What was Aker BP's (AKRBF) Q4 2024 production volume?

Aker BP's equity production for Q4 2024 averaged 449.2 thousand barrels of oil equivalent per day (mboepd).

Did Aker BP (AKRBF) meet its 2024 production guidance?

Yes, Aker BP achieved full-year 2024 production of 439 mboepd, reaching the high end of its guided range of 430-440 mboepd.

What were Aker BP's (AKRBF) Q4 2024 realized prices?

In Q4 2024, Aker BP realized prices of $74.1/boe for liquids and $79.0/boe for natural gas.

When will Aker BP (AKRBF) release its full Q4 2024 report?

Aker BP will release its Q4 2024 report on February 12, 2025, at 06:00 CET, followed by a management presentation at 08:30 CET.

How much was Aker BP's (AKRBF) production underlift in Q4 2024?

Aker BP experienced an underlift of 10.1 mboepd in Q4 2024, resulting in net sold volumes of 439.2 mboepd.