Maurel & Prom :Activity and sales 2016
(Thomson Reuters ONE) -
Paris, 13 February 2017
No. 04-17
Activity and sales 2016
12-month sales 2016: ?317m versus ?276m, up 15%
* Sharp increase in oil production in Gabon to 27,195 bopd (at 100%), up 27%
on fiscal year 2015
* Oil production stabilised at average 27,958 bopd (at 100%) over the last
three quarters of fiscal year 2016
* Gas sales in Tanzania: average 20.7 MMcf/d (M&P share) for 2016
* Decline in oil prices: average sale price down 9% to US$42.7/bbl
+-------------+
2016 sales | |
| |
Q1 2016 Q2 2016 Q3 2016 Q4 2016 | 2016 | 2015 Chg.16/15
| |
| |
+----------------------------------------------------+-------------+-------------------+
|Total production sold in the period | | |
| | | |
|barrels of 1,692,349 1,886,151 1,947,980 1,911,005| 7,437,485 |5,836,810 +27%|
|oil | | |
| | | |
|BTU 2,126,535 2,280,973 1,551,492 1,781,792| 7,740,792 |2,823,660 +174%|
+----------------------------------------------------+-------------+-------------------+
| |
+----------------------------------------------------+-------------+-------------------+
|Average sale | | |
|price | | |
| | | |
|OIL, in 32.6 45.1 44.2 47.5 | 42.7 | 47.1 -9%|
|US$/bbl | | |
| | | |
|GAS, in US$/ 3.11 3.11 3.16 3.16 | 3.13 | 3.34 -6%|
|BTU | | |
+----------------------------------------------------+-------------+-------------------+
| |
+----------------------------------------------------+-------------+-------------------+
|EUR/USD | | |
|exchange 1.10 1.13 1.12 1.08 | 1.11 | 1.11 0%|
|rate | | |
+----------------------------------------------------+-------------+-------------------+
| |
+----------------------------------------------------+-------------+-------------------+
|SALES | | |
| | | |
|Oil 55 81 81 88 | 305 | 255 20%|
|production | | |
| | | |
|Gabon 50 76 77 84 | 287 | 248 16%|
| | | |
|Tanzania 5 5 4 4 | 18 | 7 154%|
| | | |
|Drilling 3 4 3 3 | 12 | 21 -42%|
|activity | | |
+------------+ | | |
|Consolidated| 58 84 83 92 | 317 | 276 +15%|
|sales | | | |
+------------+---------------------------------------+ +-------------------+
| |
+-------------+
Group consolidated sales in fiscal year 2016 up 15% to ?317 million.
This improvement reflects the 27% increase in oil production in Gabon, which
averaged 27,195 bopd (at 100%) over the full fiscal year 2016, versus 21,347
bopd (at 100%) over the previous fiscal year.
Production has been 27,958 bopd since 1 April 2016. This notable increase, and
its continuation, is due to the positive impact of the water injection works and
processes and to the actions leaded by the operator, jointly with the users, to
solve the crude evacuation issues via the securing of the output pipeline.
The average sale price over fiscal year 2016 was down 9% at US$42.7/bbl versus
US$47.1/bbl in the previous fiscal year. The Rabi Light discount over Brent
averaged US$2.17/bbl in 2016 versus US$3.64/bbl in 2015.
In Tanzania, gas output in fiscal year 2016 averaged 20.7 MMcf/d (M&P share),
reflecting the reduced demand for gas from the State corporation TPDC (Tanzanian
Petroleum Development Corporation). Gas production capacity at the Mnazi Bay
permit is currently approximately 80 MMcf/d compared to an operated production
of around 43 MMcf/d.
Maurel & Prom working interest
production
+----------+
| |
| |
unit Q1 2016 Q2 2016 Q3 2016 Q4 2016| 2016 | 2015 Chg.
| | 16/15
| |
Oil bopd 19,910 22,195 22,666 22,237 | 21,756 |17,078 +27%
| |
Gas MMcf/d 22.8 24.5 16.5 18.9 | 20.7 | 7.6 +172%
----------------------------------------------+----------+-------
TOTAL boepd 23,717 26,279 25,413 25,392 | 25,202 |18,367 +37%
----------------------------------------------+----------+-------
| |
+----------+
Oil production in Q4 2016 was 22,237 bopd (M&P share) or 27,797 bopd at 100%,
although output from the Ezanga field in Gabon (Maurel & Prom operator, 80%) had
to be curtailed for three days due to a strike organised by the national oil
workers' union (Organisation nationale des employés du pétrole / ONEP) which
began on 17 October 2016. The safety of non-strikers and of the facilities was
thus protected.
In Tanzania, the level of gas production depends on industrial consumption in
Dar Es Salam, routed through TPDC buying from the operator (Maurel & Prom,
48.06%).
English
French
-------------------------------------------------------------------------------
pieds cubes pc cf cubic feet
pieds cubes par jour pc/j cfpd cubic feet per day
milliers de pieds cubes kpc Mcf 1,000 cubic feet
millions de pieds cubes Mpc MMcf 1,000 Mcf = million cubic feet
milliards de pieds cubes Gpc Bcf billion cubic feet
-------------------------------------------------------------------------------
baril bbl bbl Barrel
barils d'huile par jour b/j bopd barrels of oil per day
milliers de barils kb Mboe 1,000 barrels
millions de barils Mb MMbbl 1,000 Mbbl = million barrels
-------------------------------------------------------------------------------
barils équivalent pétrole bep boe barrels of oil equivalent
barils équivalent pétrole par bep/j boepd barrels of oil equivalent per
jour day
milliers de barils équivalent kbep Mboe 1,000 barrels of oil equivalent
pétrole
millions de barils équivalent Mbep MMboe 1,000 Mbbl = million barrels of
pétrole oil equivalent
For more information, go to www.maureletprom.fr
MAUREL & PROM
Tel: +33 (0)1 53 83 16 00
Press, shareholder, and investor relations
Tel: +33 (0)1 53 83 16 45
ir(at)maureletprom.fr
This document may contain forward-looking statements regarding the financial
position, results, business and industrial strategy of Maurel & Prom. By nature,
forward-looking statements contain risks and uncertainties to the extent that
they are based on events or circumstances that may or may not happen in the
future. These projections are based on assumptions we believe to be reasonable,
but which may prove to be incorrect and which depend on a number of risk
factors, such as fluctuations in crude oil prices, changes in exchange rates,
uncertainties related to the valuation of our oil reserves, actual rates of oil
production and the related costs, operational problems, political stability,
legislative or regulatory reforms, or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on Euronext Paris
CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share -
CAC PME - EnterNext(©) PEA-PME 150
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
CAFY_MAU_13FEV17_EN.pdf:
http://hugin.info/155421/R/2078220/782008.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maurel & Prom via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2017 - 17:38 Uhr
Sprache: Deutsch
News-ID 523781
Anzahl Zeichen: 12015
contact information:
Town:
Paris
Kategorie:
Business News
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