Aker BP reports third quarter 2024
Aker BP reported strong Q3 2024 results with oil and gas production averaging 415 mboepd. The company raised its full-year production guidance to 430-440 mboepd and lowered cost guidance to USD ~6.5 per barrel. Financial highlights include EBITDA of USD 2.6 billion, net profit of USD 173 million, and record-high operating cash flow of USD 2.8 billion. The Tyrving field commenced production five months ahead of schedule. The company maintains a quarterly dividend of USD 0.60 per share and improved its debt profile through new 10- and 30-year bonds.
Aker BP ha riportato risultati solidi per il terzo trimestre 2024, con una produzione di petrolio e gas che ha registrato una media di 415 mboepd. L'azienda ha aumentato le sue previsioni di produzione per l'intero anno a 430-440 mboepd e ha ridotto le stime dei costi a circa 6,5 USD per barile. I punti salienti finanziari includono un EBITDA di 2,6 miliardi di USD, un utile netto di 173 milioni di USD e un flusso di cassa operativo da record di 2,8 miliardi di USD. Il campo Tyrving ha iniziato la produzione con cinque mesi di anticipo rispetto al programma. L'azienda mantiene un dividendo trimestrale di 0,60 USD per azione e ha migliorato il suo profilo di debito attraverso nuovi obbligazioni a 10 e 30 anni.
Aker BP reportó resultados sólidos para el tercer trimestre de 2024, con una producción de petróleo y gas que promedió 415 mboepd. La compañía elevó su guía de producción para todo el año a 430-440 mboepd y redujo la guía de costos a aproximadamente 6,5 USD por barril. Los aspectos destacados financieros incluyen un EBITDA de 2,6 mil millones de USD, una ganancia neta de 173 millones de USD y un flujo de efectivo operativo récord de 2,8 mil millones de USD. El campo Tyrving comenzó la producción cinco meses antes de lo programado. La empresa mantiene un dividendo trimestral de 0,60 USD por acción y mejoró su perfil de deuda mediante nuevos bonos a 10 y 30 años.
Aker BP는 2024년 3분기 동안 하루 평균 415 mboepd의 석유 및 가스 생산으로 강력한 실적을 보고했습니다. 회사는 연간 생산 가이드를 430-440 mboepd로 상향 조정하고 배럴당 약 6.5 USD로 비용 가이드를 하향 조정했습니다. 재무 하이라이트에는 EBITDA가 26억 USD, 순이익이 1억 7300만 USD, 기록적인 운영 현금 흐름이 28억 USD 포함됩니다. 티르빙 유전은 일정보다 5개월 빨리 생산을 시작했습니다. 회사는 주당 0.60 USD의 분기 배당금을 유지하며 10년 및 30년 채권을 통해 부채 프로필을 개선했습니다.
Aker BP a publié des résultats solides pour le troisième trimestre 2024, avec une production de pétrole et de gaz moyenne de 415 mboepd. La société a relevé ses prévisions de production pour l'année entière à 430-440 mboepd et a abaissé ses prévisions de coûts à environ 6,5 USD par baril. Les points forts financiers incluent un EBITDA de 2,6 milliards USD, un bénéfice net de 173 millions USD, et un flux de trésorerie opérationnel record de 2,8 milliards USD. Le champ Tyrving a commencé sa production cinq mois plus tôt que prévu. L’entreprise maintient un dividende trimestriel de 0,60 USD par action et a amélioré son profil d'endettement grâce à de nouvelles obligations de 10 et 30 ans.
Aker BP hat starke Ergebnisse für das dritte Quartal 2024 gemeldet, mit einer durchschnittlichen Öl- und Gasproduktion von 415 mboepd. Das Unternehmen hat seine Produktionsprognose für das gesamte Jahr auf 430-440 mboepd angehoben und die Kostenschätzung auf etwa 6,5 USD pro Barrel gesenkt. Die finanziellen Höhepunkte umfassen ein EBITDA von 2,6 Milliarden USD, einen Nettogewinn von 173 Millionen USD und einen rekordhohen operativen Cashflow von 2,8 Milliarden USD. Das Tyrving-Feld nahm fünf Monate früher als geplant die Produktion auf. Das Unternehmen hält eine vierteljährliche Dividende von 0,60 USD pro Aktie aufrecht und hat sein Schuldprofil durch neue Anleihen mit 10 und 30 Jahren Laufzeit verbessert.
- Record-high cash flow from operations at USD 2.8 billion
- Production guidance raised to 430-440 mboepd
- Production cost guidance lowered to USD ~6.5 per barrel
- Tyrving field production started 5 months ahead of schedule
- Strong EBITDA of USD 2.6 billion
- Net profit decreased to USD 173 million from USD 561 million in previous period
- Production declined to 415 mboepd from 444 mboepd in previous period
- Production cost increased to USD 6.6 per barrel from USD 6.4
LYSAKER,
- Efficient operations: Oil and gas production averaged 415 (444) thousand barrels of oil equivalent per day (mboepd) during the quarter. Full-year guidance raised to 430-440 (previously 420-440) mboepd.
- Low cost: Production cost was
USD 6.6 (6.4) per barrel. Full-year guidance lowered to USD ~6.5 (previously ~7) per barrel. - Low emissions: Greenhouse gas emission intensity averaged 2.4 (2.6) kg CO2e per boe (scope 1 & 2), ranking among the lowest in the global oil and gas sector.
- Projects on track: All field development projects progressing on schedule and within budget.
- Tyrving on stream: The Tyrving field in the Alvheim area commenced production five months ahead of original plan.
- Strong financial performance: Aker BP reported EBITDA of
USD 2.6 (3.0) billion, net profit ofUSD 173 (561) million, and record-high cash flow from operations ofUSD 2.8 (1.5) billion. - Improved debt profile: Average debt maturity extended by three years following issuance of new 10- and 30-year bonds (completed in October).
- Returning value: Quarterly dividend of
USD 0.60 per share.
– We are pleased to report another quarter of high production efficiency, supported by smooth execution of our maintenance program. This performance has allowed us to increase our production guidance for 2024 and reinforces our position as an industry leader in both low costs and low emissions.
– The execution of our development projects is progressing well. This quarter, we celebrated the early production start from the Tyrving field, which came on stream in September – five months ahead of schedule, thanks to the outstanding efforts of our project team and alliance partners. Delivering with quality, on time, and within budget is a key priority as we continue developing new fields that will support future profitable growth.
– Our strong financial position was further enhanced by the issuance of 10- and 30-year bonds, extending our debt maturity and underscoring the capital markets' confidence in our strategy. This financial flexibility ensures we are well-positioned not only to deliver on current projects but also to seize future opportunities and navigate potential challenges in an evolving macroeconomic and industry landscape.
– In summary, Aker BP continues to generate value through operational excellence, strategic investments in profitable growth, and disciplined financial management. We remain fully committed to delivering value to our shareholders through consistent dividends and long-term growth.
Webcast presentation
Today at 08:30 CET, the management will present the results on a webcast available on www.akerbp.com. The presentation will be followed by an online Q&A session.
Aker BP 2024-Q3 Presentation.pdf
CONTACT:
Investor contacts:
Kjetil Bakken, Head of IR, tel.: +47 918 89 889
Carl Christian Bachke, IR Officer, tel.: +47 909 80 848
Martin Seland Simensen, IR Officer, tel.: +47 416 92 087
Media contact:
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/aker-bp-asa/r/aker-bp-reports-third-quarter-2024,c4058041
The following files are available for download:
Release | |
https://mb.cision.com/Public/1629/4058041/b99727f8796dbe85.pdf | Aker BP 2024-Q3 Report |
https://mb.cision.com/Public/1629/4058041/8d55883d1ff5fd06.pdf | Aker BP 2024-Q3 Presentation |
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SOURCE Aker BP ASA
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