• Gross production in Egypt from January to April was ~3 mbbl/d increasing to 3.3 mbbl/d in April. The wells drilled recently are performing well with one further well to be drilled with the currently contracted rig..
• Production in Vietnam of 5.9 mboe/d is at the top of the company’s expectations with the compressor issues now resolved. The FY22 WI production guidance is unchanged at 5.0-6.0 mboe/d.
• The company’s net debt (based on cash and debt) has been reduced by ~US$15 mm from YE21 to US ....
20 May 2022
Pharos Energy Plc (LSE: PHAR): Good production update with net debt down by US$15 mm. Rig availability remains key in Egypt
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Pharos Energy Plc (LSE: PHAR): Good production update with net debt down by US$15 mm. Rig availability remains key in Egypt
Pharos Energy PLC (PHAR:LON) | 23.6 0 0.4% | Mkt Cap: 99.0m
- Published:
20 May 2022 -
Author:
Stephane Foucaud -
Pages:
5
• Gross production in Egypt from January to April was ~3 mbbl/d increasing to 3.3 mbbl/d in April. The wells drilled recently are performing well with one further well to be drilled with the currently contracted rig..
• Production in Vietnam of 5.9 mboe/d is at the top of the company’s expectations with the compressor issues now resolved. The FY22 WI production guidance is unchanged at 5.0-6.0 mboe/d.
• The company’s net debt (based on cash and debt) has been reduced by ~US$15 mm from YE21 to US ....