Q1 2021 Norwegian Energy Company ASA Earnings Call Transcript
Hello, and welcome to Noreco's Q1 release. Thank you for joining us today. I'm David Cook, CEO. I'm joined by John Hulme, our COO; and Euan Shirlaw our CFO to walk you through this quarter's performance.
Please note, we encourage you to send questions as we go through the presentation. And with that, let's get started.
The top highlights for the quarter start with our production at just under 26,000 barrels of oil equivalent per day within guidance, although slightly below the midpoint. That was impacted by a first quarter one-off issue that was resolved quickly. John will cover that a little bit later. Nonetheless, it shows our continued reliable performance supporting our operational cash flow.
We've also seen a realized oil price of $56 per barrel. This is helping to underpin our pre-Tyra cash flows through the ongoing hedging arrangements and secures the predictability in our outcomes. The RBL increase was also announced in 1Q with an increase to $1.1 billion and was subsequently completed that increase in May.
We
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
