Var Energi ASA (OTCPK:VARRY)

$ 6.5 0 (0%) Market Cap: 8.27 Bil Enterprise Value: 12.63 Bil PE Ratio: 13.21 PB Ratio: 5.75 GF Score: 24/100

Q1 2023 Var Energi ASA Earnings Call Transcript

Apr 24, 2023 / 08:00AM GMT

Transcript

Ida Marie Fjellheim;r Energi AS;Head of IR

VÃ

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Thank you very much. It is my pleasure to welcome you to VÃ¥r Energi's First Quarter 2023 Results Webcast and Conference Call.

Joining us today is, as usual, our CEO, Torger Rod; and our CFO, Stefano Pujatti. Torger and Stefano will present the results, and afterwards, we will have a Q&A session.

I will now hand the word over to Torger.

Torger Rod;r Energi AS;CEO

VÃ

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Thank you, Ida. And good morning to everyone listening in on the call today.

We delivered another quarter with strong cash flow generation. We have maintained a safe and stable-supply oil and gas, with Q1 production flat from previous quarter of 214,000 barrels per day, including a continued material gas share of 38% in the quarter. We maintain our full year production guidance of 210,000 to 230,000 barrels per day. We are happy to see new production coming in from new fields on stream with the successful start-up of Frosk in March, Hyme and Bauge in

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