Newmed Energy Ltd (DKDRF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much. Good afternoon for everybody. Thank you for participating in this Zoom to review our financial results for Q1 2026. And as you know, in Q1 we had around a month of basically closure of Leviathan platform. So that affected our income, EBITDA and net profit for Q1. together with the Bulgarian Home Well. It's basically provided us with $80,000, $97 million in net profit, which is basically zero for this quarter. But our agreement, the GSPA for the region, are plenty, deeply related. And the price for this month is an average price of the last three months. So basically, what we are seeing, PEP4 for this year, taking into consideration the current rent prices, practically taking $90 rent until the end of the year. What we are seeing is an upside of $330 million in income, vis-a-vis our initial forecast. So if we reduce what we lost these 33 days, of shutdown, and we take into consideration what we are seeing already in prices in the market, so that will bring us to a better situation for this year. As I mentioned, $230 million upside for a new project. Another great news for us is we finished the third gathering line for Leviathan, the third pipeline that flowed gas from the field from the reservoir to the platform. And initially we estimated 1.4 VCF a day. Based on actual results, we are updating the production capability to 1.53 VCF a day. equivalent to 15.8 BCM. This is a great upside that we didn't take into consideration yet in our forecast, not for this year, not for later years. The reason is that we want to finish as well the Ashdod Ashkelon project, which is basically an INGL project that will increase the capacity of flow in the EMG pipeline we estimate that it will bring us to around 8-8.5 PCM and probably can do more and together with the...