Maurel & Prom :9-month sales 2017: ?258 million (+14%)
(Thomson Reuters ONE) -
Paris, 24 October 2017
No. 21-17
9-month sales 2017: ?258 million (+14%)
* Group Q3 production (25,828 boepd, M&P share) up:
* Quantities of oil sold in Gabon up 5%
* Significant increase in gas sales in Tanzania to 28.8 MMcf/d, M&P share
* Oil prices: sale price up by 23% to $50.5/bbl
Sales for the first nine months of 2017
+---------------+
| |
| |
Q1 2017 Q2 2017 Q3 2017| 9 months | 9 months Chg.
| 2017 | 2016 17/16
| |
| |
+-----------------------------------------+---------------+--------------------+
|Total production | | |
|sold over the | | |
|period, M&P share | | |
| | | |
|millions of 1.6 1.7 1.8 | 5.1 | 5.5 -7%|
|barrels of oil | | |
| | | |
|million MMBtu 1.9 1.4 2.7 | 6.0 | 6.0 +0%|
+-----------------------------------------+---------------+--------------------+
| |
+-----------------------------------------+---------------+--------------------+
|Average sale | | |
|price | | |
| | | |
|OIL, in US$/bbl 52.8 48.6 50.0 | 50.5 | 41.0 23%|
| | | |
|GAS, in US$/BTU 3.18 3.22 3.13 | 3.17 | 3.12 2%|
+-----------------------------------------+---------------+--------------------+
| |
+-----------------------------------------+---------------+--------------------+
|EUR/USD exchange 1.06 1.10 1.17 | 1.11 | 1.12 -1%|
|rate | | |
+-----------------------------------------+---------------+--------------------+
| |
+-----------------------------------------+---------------+--------------------+
|SALES (in ?M) | | |
| | | |
|Oil production 86 79 83 | 247 | 217 14%|
| | | |
|Gabon 81 75 77 | 233 | 203 |
| | | |
|Tanzania 5 3 6 | 14 | 14 |
| | | |
|Drilling 5 3 3 | 11 | 9 22%|
|operations | | |
+-----------------+ | | |
|Consolidated | 90 81 86 | 258 | 226 14%|
|sales (in ?M) | | | |
+-----------------+-----------------------+ +--------------------+
| |
+---------------+
The Group's consolidated sales for the first nine months of 2017 totalled ?258
million, up 14% compared to the same period in 2016.
This change is mainly due to the sharp increase in the average sale price of oil
produced in Gabon (+23% compared to the first nine months of 2016).
Hydrocarbon production over the first nine months of 2017
+--------------+
| |
| |
units Q1 2017 Q2 2017 Q3 2017| 9 months | 9 months Chg.
| 2017 | 2016 17/16
| |
| |
+--------------------------------------------+--------------+----------+
|Production at | | |
|100% | | |
|operated by | | |
|M&P | | |
| | | |
| Oil bopd 24,303 25,104 26,290 | 25,239 | 26,993 | -6%
| | | |
| Gas MMcf/d 43.3 30.7 60.0 | 45 | 34 | 1%
+--------------------------------------------+--------------+----------+
| TOTAL boepd 31,509 30,221 36,268| 32,684 | 34,365 | -5%
+--------------------------------------------+--------------+----------+
| |
+--------------------------------------------+--------------+----------+
|M&P | | |
|production | | |
|share | | |
| | | |
| Oil bopd 19,442 20,083 21,032 | 20,191 | 21,594 | -6%
| | | |
| Gas MMcf/d 20.8 14.8 28.8 | 21.5 | 21.3 | 1%
+--------------------------------------------+--------------+----------+
| TOTAL boepd 22,905 22,542 25,828 | 23,769 | 25,137 | -5%
+--------------------------------------------+--------------+----------+
| |
+--------------+
In Gabon, oil production continued to rise with an increase of 5% in Q3 2017
compared to Q2 2017, representing an average production of 26,290 bopd, i.e.
21,032 bopd as M&P's share (80%). Oil production over the first nine months of
2017 stood at 25,239 bopd, equating to 20,191 bopd as M&P's share (80%).
Over the first nine months of 2017, the average sale price was $50.5/bbl
compared to $41.0/bbl over the same period in 2016, an increase of 23%. It
should also be noted that the discount on the sale price of Rabi Light compared
to that of Brent decreased significantly over the last three months.
In Tanzania, the quantities of gas produced are linked to industrial gas
consumption in Dar es Salaam via the national company TPDC's demand for gas.
Gas production varied significantly from one quarter to the next owing to the
seasonal nature of the activity. As such, the rainy season during Q2 2017 led to
more intense hydroelectric activity and a subsequent decline in the demand for
gas. Following the latter's significant increase in Q3 2017, average gas
production reached a level of 60 MMcf/d, or 28.8 MMcf/d as M&P's share (48.06%).
Over the first nine months of 2017, average production stood at 45 MMcf/d, or
21.5 MMcf/d as M&P's share (48.08%).
On the basis of these various factors, industrial gas consumption in Tanzania
should continue to rise to allow the national company TPDC to increase its
demand for gas on the Mnazi Bay permit operated by Maurel & Prom to achieve the
contractual target of 80 MMcf/d.
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
CAC All-Share - CAC Oil & Gas - Next 150 - Eligible PEA-PME and SRD
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
MAU_CA_24OCT17_EN.pdf:
http://hugin.info/155421/R/2144214/821708.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: 24.10.2017 - 17:43 Uhr
Sprache: Deutsch
News-ID 565042
Anzahl Zeichen: 12947
contact information:
Town:
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Kategorie:
Business News
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