Aker BP second quarter 2024 trading update

Rhea-AI Summary

Aker BP released its preliminary Q2 2024 production and sales figures, reporting an equity production of 444.1 thousand barrels of oil equivalents per day (mboepd) and a net volume sold of 460.9 mboepd. This represents a slight decrease in production from Q1 2024's 448.0 mboepd, but an increase in net volume sold from 428.9 mboepd. Realized prices for liquids were $83.1 per barrel and $57.2 per barrel for natural gas.

For the first half of 2024, the average production was 446 mboepd. However, planned maintenance activities are expected to affect the second half, leading to a revised full-year production forecast of 420-440 mboepd, up from 410-440 mboepd. The full Q2 report will be published on 12 July 2024, followed by a webcast presentation and Q&A session.

Positive

• Net volume sold increased from 428.9 mboepd in Q1 2024 to 460.9 mboepd in Q2 2024.
• Realized liquid prices increased slightly to $83.1 per barrel in Q2 2024 from $82.9 per barrel in Q1 2024.
• Full-year production guidance revised upward to 420-440 mboepd from 410-440 mboepd.

Negative

• Equity production decreased from 448.0 mboepd in Q1 2024 to 444.1 mboepd in Q2 2024.
• Net natural gas volume decreased from 64.4 mboepd in Q1 2024 to 62.7 mboepd in Q2 2024.

LYSAKER, Akershus, Norway, July 3, 2024 /PRNewswire/ -- Aker BP (OSE: AKRBP) (OTCQX: AKRBF) (OTCQX: AKRBY) will publish its report for the second quarter 2024 on Friday 12 July. Today, the company provides its preliminary production and sales figures for the quarter and an update on its full-year production forecast. 

Production and sales
The company's equity production for the quarter was 444.1 thousand barrels of oil equivalents per day (mboepd). Net volume sold in the quarter was 460.9 mboepd:

Volume (mboepd)	Q2-24	Q1-24
Net production	444.1	448.0
Overlift/(underlift)	16.7	(19.0)
Net volume sold	460.9	428.9
Of which liquids	398.2	364.5
Of which natural gas	62.7	64.4
Realised prices (USD/boe)	Q2-24	Q1-24
Liquids	83.1	82.9
Natural gas	57.2	51.4

Full-year production guidance
Average production for the first half of 2024 was 446 mboepd. For the second half, production is expected to be impacted by planned maintenance activities. The full-year production is now forecasted to be 420-440 mboepd, revised from the previous guidance of 410-440 mboepd.

Reporting date
The company will release its report for the second quarter 2024 on Friday 12 July 2024 at 06:00 CEST. At 08:30 CEST the same day, the management will present the results on a webcast available at www.akerbp.com/en. The presentation will be followed by an online Q&A session.

CONTACT: 
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

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-bp-asa/r/aker-bp-second-quarter-2024-trading-update,c4010336

The following files are available for download:

https://mb.cision.com/Main/1629/4010336/2897983.pdf

Release

 

View original content:https://www.prnewswire.com/news-releases/aker-bp-second-quarter-2024-trading-update-302188682.html

SOURCE Aker BP ASA

FAQ

What were Aker BP's equity production figures for Q2 2024?

Aker BP's equity production for Q2 2024 was 444.1 thousand barrels of oil equivalents per day (mboepd).

How much net volume did Aker BP sell in Q2 2024?

Aker BP sold a net volume of 460.9 thousand barrels of oil equivalents per day (mboepd) in Q2 2024.

What were the realized prices for Aker BP's liquids and natural gas in Q2 2024?

The realized prices were $83.1 per barrel for liquids and $57.2 per barrel for natural gas in Q2 2024.

What is Aker BP's revised full-year production guidance for 2024?

Aker BP's revised full-year production guidance for 2024 is 420-440 thousand barrels of oil equivalents per day (mboepd).

When will Aker BP release its full Q2 2024 report?

Aker BP will release its full Q2 2024 report on 12 July 2024.