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Probleme bei der Darstellung von ARIVA.DE?

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29.03.17
ROUNDUP/Aktien New York Schluss: Dow im Minus - Straffere Geldpolitik befürchtet

Maurel & Prom :Activity and sales 2016

Montag, 13.02.2017 17:40

Paris, 13 February 2017
 No. 04-17

Activity and sales 2016


12-month sales 2016: €317m versus €276m, up 15%

  • Sharp increase in oil production in Gabon to 27,195 bopd (at 100%), up 27% on fiscal year 2015
  • Oil production stabilised at average 27,958 bopd (at 100%) over the last three quarters of fiscal year 2016
  • Gas sales in Tanzania: average 20.7 MMcf/d (M&P share) for 2016
  • Decline in oil prices: average sale price down 9% to US$42.7/bbl
 
   


2016 sales                  
  Q1 2016 Q2 2016 Q3 2016 Q4 2016   2016   2015 Chg.16/15
                   
Total production sold in the period            
barrels of oil 1,692,349 1,886,151 1,947,980 1,911,005   7,437,485   5,836,810 +27%
BTU 2,126,535 2,280,973 1,551,492 1,781,792   7,740,792   2,823,660 +174%
                   
Average sale price                  
OIL, in US$/bbl 32.6 45.1 44.2 47.5   42.7   47.1 -9%
GAS, in US$/ BTU 3.11 3.11 3.16 3.16   3.13   3.34 -6%
                   
EUR/USD exchange rate 1.10 1.13 1.12 1.08   1.11   1.11 0%
                   
SALES                  
Oil production 55 81 81 88   305   255 20%
Gabon 50 76 77 84   287   248 16%
Tanzania 5 5 4 4   18   7 154%
Drilling activity 3 4 3 3   12   21 -42%
Consolidated sales 58 84 83 92   317   276 +15%
                   

Group consolidated sales in fiscal year 2016 up 15% to €317 million.

This improvement reflects the 27% increase in oil production in Gabon, which averaged 27,195 bopd (at 100%) over the full fiscal year 2016, versus 21,347 bopd (at 100%) over the previous fiscal year.

Production has been 27,958 bopd since 1 April 2016. This notable increase, and its continuation, is due to the positive impact of the water injection works and processes and to the actions leaded by the operator, jointly with the users, to solve the crude evacuation issues via the securing of the output pipeline.

The average sale price over fiscal year 2016 was down 9% at US$42.7/bbl versus US$47.1/bbl in the previous fiscal year. The Rabi Light discount over Brent averaged US$2.17/bbl in 2016 versus US$3.64/bbl in 2015.

In Tanzania, gas output in fiscal year 2016 averaged 20.7 MMcf/d (M&P share), reflecting the reduced demand for gas from the State corporation TPDC (Tanzanian Petroleum Development Corporation). Gas production capacity at the Mnazi Bay permit is currently approximately 80 MMcf/d compared to an operated production of around 43 MMcf/d.

Maurel & Prom working interest production            
                     
  unit Q1 2016 Q2 2016 Q3 2016 Q4 2016   2016   2015 Chg.
16/15
 Oil bopd 19,910 22,195 22,666 22,237   21,756   17,078 +27%
 Gas MMcf/d 22.8 24.5 16.5 18.9   20.7   7.6 +172%
 TOTAL boepd 23,717 26,279 25,413 25,392   25,202   18,367 +37%
                     

Oil production in Q4 2016 was 22,237 bopd (M&P share) or 27,797 bopd at 100%, although output from the Ezanga field in Gabon (Maurel & Prom operator, 80%) had to be curtailed for three days due to a strike organised by the national oil workers' union (Organisation nationale des employés du pétrole / ONEP) which began on 17 October 2016. The safety of non-strikers and of the facilities was thus protected.

In Tanzania, the level of gas production depends on industrial consumption in Dar Es Salam, routed through TPDC buying from the operator (Maurel & Prom, 48.06%).

 
   

       

French
    English
pieds cubes pc cf cubic feet
pieds cubes par jour pc/j cfpd cubic feet per day
milliers de pieds cubes kpc Mcf 1,000 cubic feet
millions de pieds cubes Mpc MMcf 1,000 Mcf = million cubic feet
milliards de pieds cubes Gpc Bcf billion cubic feet
baril bbl bbl Barrel
barils d'huile par jour b/j bopd barrels of oil per day
milliers de barils kb Mboe 1,000 barrels
millions de barils Mb MMbbl 1,000 Mbbl = million barrels
barils équivalent pétrole bep boe barrels of oil equivalent
barils équivalent pétrole par jour bep/j boepd barrels of oil equivalent per day
milliers de barils équivalent pétrole kbep Mboe 1,000 barrels of oil equivalent
millions de barils équivalent pétrole Mbep MMboe 1,000 Mbbl = million barrels of oil equivalent

 
   


For more information, go to www.maureletprom.fr
MAUREL & PROM
Tel: +33 (0)1 53 83 16 00                                                                 

Press, shareholder, and investor relations
Tel: +33 (0)1 53 83 16 45                                                                 
ir@maureletprom.fr

                                                                                                         


This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

 
   


Maurel & Prom is listed for trading on Euronext Paris
CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share - CAC PME - EnterNext© PEA-PME 150
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maurel & Prom via Globenewswire