BW Energy Ltd (OSTO:BWEo)
kr 22.65 -0.35 (-1.52%) Market Cap: 5.91 Bil Enterprise Value: 10.92 Bil PE Ratio: 3.92 PB Ratio: 0.73 GF Score: 69/100
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Q1 2022 BW Energy Ltd Earnings Call Transcript

May 27, 2022 / 12:00PM GMT
Release Date Price: kr29.22 (-5.13%)
Operator

Welcome to the BW Energy Q1 presentation. (Operator Instructions) Today I'm pleased to present Carl Arnet, CEO. Please begin your meeting.

Carl Arnet
BW Energy Limited - CEO

Welcome to BW Energy first-quarter presentation. This presentation will be hosted by Knut Sæthre, our CFO; Lin Espey, our Chief Operating Officer, and myself, Carl Arnet. Please note our disclaimer. Highlights for the quarter, the decision to proceed with Maromba development has increased company 2P reserves by 135%, which of course is a significant increase.

The first oil from Hibiscus Ruche development is still on track for an end of 2022 first oil. We have also achieved in-principle commitments from a consortium of banks for an RBL facility. They're based on the Dussafu Asset. The Q1 EBITDA was USD65.5 million with a net profit of USD35.6 million. This was based on one lifting to company with a net sold volume of 1 million barrels, that's including DMO volumes.

The average lifting price achieved was USD120 and with the gross production of 1 million barrels. Income

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