Maurel & Prom : 2017 Q1 sales: ?90 million
(Thomson Reuters ONE) -
Paris, 27 April 2017
No. 11-17
2017 Q1 sales: ?90 million
Stable in sequential (vs Q4 2016) thanks to a favorable price effect but an
unfavorable quantity effect in Gabon
Increase in annual (vs Q1 2016) thanks to a very favorable price effect
The Group's consolidated sales for the first quarter of 2017 totalled
?90 million, broken down as follows:
Chg. Chg.
Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q1 17/ Q1 2016 Q1 17/
Q4 16 Q1 16
Total production sold
in the period (M&P
share)
million barrels of oil 1.89 1.95 1.91 1.63 -14% 1.69 -3%
million MMBTUs 2.28 1.55 1.78 1.91 7% 2.13 -10%
Average selling price
OIL, in US$/bbl 45.1 44.2 47.5 52.8 11% 32.6 62%
GAS, in US$/BTU 3.11 3.16 3.16 3.18 1% 3.11 2%
?/US$ exchange rate 1.13 1.12 1.08 1.06 -2% 1.10 -4%
SALES ?m ?m ?m ?m ?m
Oil production 81 81 88 86 -3% 55 56%
Gabon 76 77 84 81 -3% 50 62%
Tanzania 5 4 4 5 9% 5 -5%
Drilling activity 4 3 3 5 31% 3 75%
Consolidated sales 84 83 92 90 -1% 58 57%
Sales trends reflected a sharp rise in the average selling price of oil produced
in Gabon (up 11% versus Q4 2016 and up 62% versus Q1 2016) while volumes sold
were relatively stable compared to Q1 2016 (down 3%) but lower compared to Q4
2016 (down 14%).
The average selling price of oil has followed the rise in the market reference
price, i.e. Brent. It has also benefited from higher prices for Rabi Light crude
oil, which is discounted compared to Brent and averaged US$3.45/bbl in Q1 2016,
US$1.49/bbl in Q4 2016 and US$1.35/bbl in Q1 2017.
Hydrocarbon production in Q1 2017 (M&P share)
+------------------+
| |
| |
| Chg. | Chg.
Units Q2 2016 Q3 2016 Q4 2016| Q1 2017 T1 17/ |Q1 2016 T1 17/
| T4 16 | T1 16
------------------------------------+------------------+--------------
Oil bopd 22,195 22,666 22,237| 19,442 -13% | 19,910 -2%
| |
Gas MMcf/d 24.5 16.5 18.9| 20.8 10% | 22.8 -9%
------------------------------------+------------------+--------------
TOTAL boepd 26,279 25,413 25,392| 22,905 -10% | 23,717 -3%
------------------------------------+------------------+--------------
| |
+------------------+
Oil production in Q1 2017 stood at 19,442 bopd for M&P working interest (80 %),
or 24,303 bopd for operated production. This level was below the fields'
production capacity, which had been impacted by a strike that disrupted
operations.
In Tanzania, gas output was 20.8 MMcf/d (M&P share: 48.06%), almost the same as
the 2016 average (20.7 MMcf/d). Gas production capacity on the Mnazi Bay permit
is currently around 80 MMcf/d for average operated production of around 43
MMcf/d (at 100%). This production level depends on industrial gas consumption in
Dar Es Salam, which is routed through TPDC buying from the operator.
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 b bbl barrel
barils d'huile par jour b/j bopd barrels of oil per day
milliers de barils kb Mbbl 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 jour bep/j boepd barrels of oil equivalent per 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
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
CAFY_MAU_270417_ENG.pdf:
http://hugin.info/155421/R/2099885/795816.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: 27.04.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 538889
Anzahl Zeichen: 8063
contact information:
Town:
Paris
Kategorie:
Business News
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