Petronor E&P Asa (PTEAF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Jens Pace. I'm the CEO of Petronor. It's good to be back in Oslo to review our third quarter results with you today. We sent out a report earlier this morning and I have a fairly standardized slide pack to discuss those results. But the main point of being here is to answer your questions. So please do send them in and we'll get to them as quickly as possible. Thanks for your patience with a slightly later time this morning. We normally do this at nine o'clock. It was pointed out to us by Theodore Svean Nilsson of Sparebank that we were clashing with another company. So we moved it to avoid that conflict. And so I hope that means that Theodore, you can be watching us and thanks for following us. The normal disclaimer, and this is the outline of the presentation that I have today. It's a brief operational update, some comments on financial performance and our commitment to shareholder value, an overview of the portfolio, touch on what I can say about the investigation, and a summary then before we get to your questions. So starting with an operational update here, it's quite an uneventful quarter in terms of production. Third quarter production was on trend with previous quarters with a slight decline associated with normal reservoir depletion. But the main story is that we completed, during the quarter, we completed a... five-well infill drilling program, which is starting to have a big impact on our production. So we drilled five wells, three of them have been put on production, two are on full production now, one is still being ramped up, and another two will be brought online in the coming weeks. And the three wells that are already flowing are adding about 5,000 barrels of oil per day to the gross production. And this has been increasing....