Third quarter 2022 trading update
Aker BP will publish its financial report for the third quarter 2022 on Wednesday 26 October 2022. The company issues this trading update to summarize its production and sales volumes and related topics for the quarter.
Oil and gas production and sales
Aker BP produced 411.7 thousand barrels of oil equivalents per day (mboepd) in the quarter. Net volume sold amounted to 406.7 mboepd.
| Volumes (mboepd) | Q3-22 | Q2-22 |
| Net production | 411.7 | 181.3 |
| Over/underlift | (5.0) | (8.6) |
| Net sold volume | 406.7 | 172.6 |
| Of which liquids | 342.2 | 127.5 |
| Of which natural gas | 64.5 | 45.1 |
| — | ||
| Realised prices (USD/boe) | Q3-22 | Q2-22 |
| Liquids | 101.1 | 117.5 |
| Natural gas | 280.9 | 152.6 |
Impairments
Non-cash net impairment charges are estimated to USD 55 million before tax (approximately USD 12 million after tax) for the third quarter. The impairment is related to the Ula area.
Tax
The tax expense for third quarter is expected to be impacted by currency movements, and the company expects an effective tax rate of approximately 80 percent.
Conference call and webcast
The company will host a conference call and webcast on 26 October 2022 at 08:30 CEST. To participate, go to www.akerbp.com/en or use the following dial-in details. Please join the call 5 minutes before the scheduled start time as it will start promptly.
| Dial in number Norway: | +47 21 56 33 19 |
| Dial in number UK: | +44 (0) 33 0551 0211 |
| Conference PIN: | 1086698 # |
Disclaimer
The information in this statement is based on a preliminary assessment of the company’s third quarter 2022 financial results. The company has not completed its financial reporting and related review and control procedures. The estimates provided may therefore be subject to change and the financial statements finally approved and released by the company may deviate from the information provided here.