Wintershall Dea Delivers Additional Gas from Egypt, Russia Fields

Wintershall Dea Delivers Additional Gas from Egypt, Russia Fields

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.

Sarah Samir 2698 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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