Bw Energy Ltd (BWEFF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

A warm welcome to this first quarter 2025 and Moromba FID. The long gestation period is over. Presentation by BW Energy. This presentation will be hosted by Jerome Berthet, our chief technical officer and in charge of the Maromba project. Thomas Young, our chief strategy officer, who is here to present the financials we have, or the project financials. And then Brice will round up the presentation and complete the quarter. We also have some key people from the Maromba, not only project, but involved in our Moromba development, our Brazil office. So we have, and if you can raise up when I say your name, that's fine. Alex Almeida, he's our regulatory responsible for Moromba and Brazil. We have Chris Boyers, our subsurface For Maromba, we have Thomas Kolansky, our Chief Business Development Officer. We have Kei Ikeda, who's responsible for the FPSO refurbishment. And last but not least, Ricardo Mucci, who's our GM in Brazil. So, please ask these guys questions. I know there's some questions around regulatory process, etc. Please benefit from having these people here and ask questions after we've finished the presentation. Then please note our disclaimer, as usual. So highlights for the first quarter. We recorded a quarterly EBITDA record. Very pleased with that. We had a $74.8 per barrel realized oil price. We may not see that next quarter, but still was good to have such a quarter. We had a net production of 36,000 barrels per day, which gave us 3.7 million barrels sold in the quarter. And we made a substantial oil discovery on Verdun. So the other highlight is, of course, the Maromba FID, which we're going to present today. And we had a very solid cash position of close to $287 million. So the key figures for the revenue, we were suitably up on the first quarter last ...