Wintershall Dea, European Oil and Gas Company, announced results of Q2 2021. The company reported additional gas from its newest development area, Raven in Egypt and Achim Area 4A/5A in Russia, the company said in a statement.

The company’s Q2 production reached 613 million barrels of oil equivalent per day (mboe/d), reaching output average of 636 mboe/d in H1 2021.

Accordingly, the company’s net income increased by 93% Year-on-Year (Y-o-Y), hitting around $198 million, while its EBITDAX grow by 140% Y-o-Y recording around $750 million.

“Q2 proved to be an excellent quarter for Wintershall Dea. Our strong operational and financial performance allowed us to reduce our leverage back to our mid-term target range. This has stabilized our credit ratings and gives us significant flexibility to follow our strategic objectives,” Mario Mehren, Wintershall Dea Chairman & CEO, noted.