Petronor E&P Asa (PTEAF) Q1 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.815 Well, I have to say it's an absolutely stunning morning 00:00:08.141 -- 00:00:13.208 here in Oslo. So I feel fortunate to be here to discuss the performance 00:00:13.208 -- 00:00:17.093 of Petronor E&P. Good morning. My name is Jens Pace. 00:00:17.093 -- 00:00:22.380 I'm the CEO of the company. And today we put out an interim report covering 00:00:22.380 -- 00:00:27.557 the first quarter. And I'd like to I'm here to answer 00:00:27.557 -- 00:00:33.227 your questions about the company's performance over the first part of this year. 00:00:33.227 -- 00:00:38.576 I have a few slides as normal to get through to provide a little bit of extra 00:00:38.576 -- 00:00:43.805 context to the report we put out. But I really want to get to your questions. 00:00:43.805 -- 00:00:49.731 So please send them in and we'll get to them as soon as I get through these slides. 00:00:51.179 -- 00:00:56.168 It's a fairly standardized pack and it starts with the disclaimer, so I'll let you consider 00:00:56.168 -- 00:01:01.726 that at your leisure. Really, we're starting off with production as normal, 00:01:01.726 -- 00:01:07.033 and we've seen improved production over the course of first 00:01:07.033 -- 00:01:08.515 quarter, 00:01:08.515 -- 00:01:13.140 based on how we ended the year in 2025. 00:01:13.140 -- 00:01:18.187 And this comes from the additional production capacity that was added with new wells 00:01:18.187 -- 00:01:23.214 last year, as well as a reduced queue of workovers that bringing wells 00:01:23.214 -- 00:01:28.886 back on production. So we've seen production increase to 00:01:28.886 -- 00:01:31.032 an average of 4,700 00:01:31.032 -- 00:01:34.180 barrels a day over the course of the quarter. 00:01:34.180 -- 00:01:39.192 We did have some inter...