As a reminder the company reported better than expected results (10% above consensus) at $1.bn for Q4 17. By division 1) E&P Norway: adjusted earnings came in at $3bn, up 52% yoy with a stable production yoy at 1.37mbpd. Adjusted expenses increased due to the change in allocation of gas transportation costs between Norway E&P and the Midstream process. 2) E&P International: earnings came in at $468m vs a loss of $681m a year ago and $27m in Q3 17. Production increased by 5% yoy to
09 Feb 2018
Geared to benefit from higher oil prices
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Geared to benefit from higher oil prices
As a reminder the company reported better than expected results (10% above consensus) at $1.bn for Q4 17. By division 1) E&P Norway: adjusted earnings came in at $3bn, up 52% yoy with a stable production yoy at 1.37mbpd. Adjusted expenses increased due to the change in allocation of gas transportation costs between Norway E&P and the Midstream process. 2) E&P International: earnings came in at $468m vs a loss of $681m a year ago and $27m in Q3 17. Production increased by 5% yoy to