Okea ASA (FRA:3SX)

€ 3.346 0.034 (1.03%) Market Cap: 358.34 Mil Enterprise Value: 344.11 Mil PE Ratio: 0 PB Ratio: 1.93 GF Score: 66/100

Q3 2024 Okea ASA Earnings Call Transcript

Oct 31, 2024 / 09:00AM GMT

Transcript

Svein Liknes

Okea ASA - Chief Executive Officer

Good morning and welcome to the Okea third quarter presentation. My name is Svein Liknes. I'm the CEO of UA and I'm also joined by Birte Norheim, our CFO who will take you through the finance part a little bit later before I come back and take the summary. But before we dive into that, I would like to take you through an operations update and also some general considerations of the quarter at large.

So the highlights in the third quarter is that we have seen very strong operational performance on all our assets in our portfolio, even though we've had planned maintenance on most of them as well. We have been able to maintain strong production of 37,300 per day in in barrels per day in production, which is just slightly below the previous quarter.

We have also done production optimization initiatives on Droon on the hustle field, hustle move was started back in October last year and was a field that was going to deliver 4,400 barrels equivalent and then we increased it to 4,000 and that we have done even more de bottlenecking now, so now we

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