• 3Q21 production was ~11.3 mbbl/d and is expected to average ~11.1 mbbl/d during FY21 as production is impacted by a back-log of work-overs. This suggests that 2H21 production would average about 10.9 mbbl/d, which is below the previous expectations of >11.3 mbbl/d.
• With three rigs plus one work-over unit now in operation, development activities at Blocks 3&4 will increase to grow production in 2022. We already forecast capex for the block at US$50 mm (US$34 mm in 2021).
• 3Q21 operating cas ....
10 Nov 2021
Tethys Oil AB (SSE: TETY): Strong free cash flow. Activities expected to continue to accelerate
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Tethys Oil AB (SSE: TETY): Strong free cash flow. Activities expected to continue to accelerate
- Published:
10 Nov 2021 -
Author:
Stephane Foucaud -
Pages:
5
• 3Q21 production was ~11.3 mbbl/d and is expected to average ~11.1 mbbl/d during FY21 as production is impacted by a back-log of work-overs. This suggests that 2H21 production would average about 10.9 mbbl/d, which is below the previous expectations of >11.3 mbbl/d.
• With three rigs plus one work-over unit now in operation, development activities at Blocks 3&4 will increase to grow production in 2022. We already forecast capex for the block at US$50 mm (US$34 mm in 2021).
• 3Q21 operating cas ....