First quarter 2023 trading update
Aker BP will release its Q1 2023 financial report on April 27, 2023.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Aker BP will release its Q1 2023 financial report on April 27, 2023. The company reported production of 452.7 thousand barrels of oil equivalent per day (mboepd) and net sales of 449.6 mboepd. Compared to Q4 2022, production increased from 432.0 mboepd and net sales rose from 428.3 mboepd. However, realized prices for liquids dropped from 86.6 USD/boe in Q4 to 78.4 USD/boe, and natural gas prices saw a significant decline from 150.4 USD/boe to 98.7 USD/boe. Aker BP anticipates non-cash impairment charges of approximately 400 million USD before tax related to its Edvard Grieg area, stemming from project terminations and reduced future prices.
Positive
- Production increased to 452.7 mboepd from 432.0 mboepd in Q4 2022.
- Net sales rose to 449.6 mboepd compared to 428.3 mboepd in Q4 2022.
Negative
- Realized prices for liquids fell to 78.4 USD/boe from 86.6 USD/boe.
- Natural gas prices declined significantly from 150.4 USD/boe to 98.7 USD/boe.
- Expected impairment charges of approximately 400 million USD before tax.
Details
News Market Reaction – AKRBF
The recorded move for AKRBF in the trading session of this news was -3.22%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FORNEBU,
Oil and gas production and sales
Volume (mboepd) | Q1-23 | Q4-22 | Q3-22 |
Net production | 452.7 | 432.0 | 411.7 |
Overlift/(underlift) | (3.1) | (3.7) | (5.0) |
Net sold volume | 449.6 | 428.3 | 406.7 |
Of which liquids | 384.1 | 362.2 | 342.2 |
Of which natural gas | 65.5 | 66.0 | 64.5 |
Realised prices | Q1-23 | Q4-22 | Q3-22 |
Liquids (USD/boe) | 78.4 | 86.6 | 101.1 |
Natural gas (USD/boe) | 98.7 | 150.4 | 280.9 |
Impairments
The company expects non-cash impairment charges of approximately
Webcast
The company will release the first quarter 2023 results on
Disclaimer
The information in this statement is based on a preliminary assessment of the company's first quarter 2023 financial results. The company has not completed its financial reporting and related review and control procedures. The estimates provided may therefore be subject to change and the financial statements finally approved and released by the company may deviate from the information herein.
Contact
Head of Investor Relations,
tel.: +47 918 89 889
The following files are available for download:
View original content:https://www.prnewswire.com/news-releases/first-quarter-2023-trading-update-301801409.html
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