• 2Q22 gross production of 86.3 mmcf/d was above our expectations of 85 mmcf/d. 1H22 opex of US$0.45/mcf is 10% below opex in 1H21.
• Working capital (including receivables and payables) at the end of June stood at US$32.3 mm (including cash of US$27.4 mm), which is US$3.5 mm above our expectations. This reflects high revenue and low opex and capex.
• As a result of the strong operational and financial performance, Wentworth is increasing its 1H22 dividend to US$0.08 per share. This represents a ....
01 Sep 2022
Wentworth Resources plc (AIM: WEN): Another strong quarter. Increasing dividend per share by 15%. 2H22 work programme could boost production
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Wentworth Resources plc (AIM: WEN): Another strong quarter. Increasing dividend per share by 15%. 2H22 work programme could boost production
- Published:
01 Sep 2022 -
Author:
Stephane Foucaud -
Pages:
5
• 2Q22 gross production of 86.3 mmcf/d was above our expectations of 85 mmcf/d. 1H22 opex of US$0.45/mcf is 10% below opex in 1H21.
• Working capital (including receivables and payables) at the end of June stood at US$32.3 mm (including cash of US$27.4 mm), which is US$3.5 mm above our expectations. This reflects high revenue and low opex and capex.
• As a result of the strong operational and financial performance, Wentworth is increasing its 1H22 dividend to US$0.08 per share. This represents a ....