Q2 2023 BW Energy Ltd Earnings Call Transcript
A warm welcome to the second quarter presentation for BW Energy. This presentation will be hosted, as usual, by our CFO, Knut Sæthre; our COO, Lin Espey; and myself, Carl Arnet.
Please note our disclaimer. Highlights for the second quarter, three producing wells at Hibiscus has been completed, and now it's been handed over to operations. And we are on a very good track to complete the fourth well and expect to have that handed over to operations shortly as well. We have managed to start the second gas lift compressor after some initial commissioning issues, and it's now supporting the production from the Tortue field, that will be covered a bit more lately as well.
Golfinho closing is imminent, and address that later. We had a EBITDA in the second quarter of $39.3 million with a net profit of $5.3 million. There was one lifting in the quarter to BW Energy for 950,000 barrels with a achieved lifting price of $75 per barrel. We have a $100 million RBL accordion completed undrawn. And cash available to the company stood at $233 million dollars.
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