Dno Asa Class A · OSL:DNO
Dno Asa Class A — Dno Asa Ord — Q1 2024 Earnings Presentation
10 slides from Dno Asa Class A's earnings presentation, May 8, 2024
Slide 1: Q1 2024 Interim Results Presentation
Q1 2024 Interim Results Presentation
Slide 2: Q1 2024 summary and post-quarter developments
Q1 2024 summary and post-quarter developments • Total Q1 2024 revenues of USD 183 million and operating profit of USD 61 million Net production thousand boepd • Net production continued to increase and averaged 74,800 barrels of oil equivalent 89.4 per day (boepd) in the quarter, of which Kurdistan
Slide 3: Acquiring production in the North Sea
Acquiring production in the North Sea Skuld • Today announced acquisition of several oil and gas fields in the Norne area from Vår Energi ASA for USD 51 million plus DNO’s 22.62 percent Verdande* interest in the Ringhorne East unit Urd • Expected contribution of 3,000 boepd net to DNO at closing, bu
Slide 4: Bestla enters development project pipeline
Alve Marulk Andvare development Bestla enters development project pipeline Berling development • Bestla development (DNO 39 percent) approved by partners in March as a Fenja subsea tie-back development to Brage (14.3 percent) • Bestla is estimated to contain nine million barrels of oil equivalent (M
Slide 5: Financial results – key figures
Financial results – key figures Revenues Operating profit Net profit USD million USD million USD million 269 199 183 155 141 87 61 58 40 38 17 4 -15 -19 -55 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 • Increase in operating
Slide 6: Cash flow
Cash flow • Q1 2024 operational cash flow of USD 100 million (USD Q1 2024 cash flow USD million 93 million in Q4 2023) • There were no tax payments or refunds during Q1 2024 (USD 6 million refund received in Q4 2023) • Net investing activities of USD 51 million (USD 69 million in Q4 2023) consist of
Slide 7: Capital structure
Capital structure Cash deposits Net cash Equity ratio USD million USD million percent 911 50 50 49 48 743 47 708 719 606 344 177 171 142 153 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 • Solid balance sheet with net cash of
Slide 8: Looking ahead
Looking ahead • Company engaged directly and with peer companies in discussions with Kurdistan Regional Government to facilitate the reopening of the export pipeline, which, if opened, would double DNO’s Kurdistan revenue • Stepping up investments in Tawke license by restarting completion of three d
Slide 9: Important notice
Important notice This presentation (the “Presentation”) has been prepared and delivered by DNO ASA (“DNO” or the “Company”). Copyright of all published material including photographs, drawings and images in this document remains vested in DNO and third party contributors as appropriate. Accordingly,
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