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Wintershall Dea Says Production Costs To Fall Further

Monday, 23 Nov 2020

Nov 23 (Reuters) - Wintershall Dea CFO::SEES FY OUTPUT REMAIN IN TARGET RANGE OF 610,000-615,000 MBOE/DAY FOR 2020 ON THE WHOLE.PRODUCTION COSTS WILL CONTINUE TO FALL FURTHER AS MORE VOLUME IS PRODUCED IN 2021, 2022.CONFIDENT TO END 2021 WITH MODESTLY POSITIVE CASH FLOW.Further company coverage: . (Reporting by Vera Eckert and Berlin Speed Desk). ((berlin.newsroom(at)thomsonreuters.com; +49 30 2201 33599;)).

Wintershall DEA Says Q3 EBITDAX Down 44% Y/Y

Monday, 23 Nov 2020

Nov 23 (Reuters) - Wintershall Dea Gmbh [RIC:RIC:WINT.UL]::Q3 2020 RESULTS: BUILDING OPERATIONAL AND STRATEGIC MOMENTUM.Q3 EBITDAX OF €397 MILLION - REFLECTING THE SHARP DECLINE IN COMMODITY PRICES, BUT 56% HIGHER QOQ;.RESULTS IMPACTED BY WEAK COMMODITY PRICE ENVIRONMENT (BRENT AND EUROPEAN GAS PRICES DOWN 30% AND 40% YOY RESPECTIVELY).PRODUCTION OF 606,000 BOE/D UP 3% YOY.Q3 PRODUCTION OF 606,000 BOE/D UP 3% YOY;.EBITDAX OF EUR 397 MILLION - REFLECTING SHARP DECLINE IN COMMODITY PRICES, BUT 56% HIGHER QOQ.PRODUCTION AND DEVELOPMENT CAPEX OF EUR 252 MILLION - ON TRACK TO END YEAR WITHIN GUIDANCE AT EUR 1.2 BILLION.CONTINUING BEST-IN-CLASS PRODUCTION COSTS AT $3.7/BOE.FREE CASH FLOW OF EUR 89 MILLION - EXPECT TO END FULL YEAR IN MODERATELY CASH FLOW POSITIVE POSITION.WE ANNOUNCE OUR INTENT TO HAVE NET ZERO UPSTREAM ACTIVITIES BY 2030, TO BRING OUR METHANE EMISSIONS INTENSITY BELOW 0.1% BY 2025 AND TO HAVE NO ROUTINE FLARING BY 2030.

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