Wintershall Dea Announces Stable Operational Performance for Q1 2023

Wintershall Dea Announces Stable Operational Performance for Q1 2023

Wintershall Dea announced a stable operational performance for Q1 2023 when the company’s daily output recorded 318,000 barrels of oil equivalent (boe/d) for the quarter.

The daily production comes on track with the fiscal year (FY) production guidance of 325,000 boe/d to 350,000 boe/d.

The company recorded an adjusted net income of €298 million, up 10% YoY; and Capex of €214 million, 3% higher YoY. Its EBITDAX was €1.14 billion, according to the company’s announcement.

The company made a free cash flow of €164 million, due to a softer commodity price environment and higher tax payments in Norway on the back of strong earnings in 2022. Additionally, the company achieved cash and cash equivalents of €2.93 billion.

Wintershall Dea announced a net debt of €1.52 billion, leverage of 0.27x, and reemphasized its decision to fully exit Russia in an orderly manner complying with all applicable laws and regulations announced and asserted that implementation started.

Sarah Samir 3054 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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