Mixed bag in my view. At a glance:
Positives: Sangomar production during the quarter (75k bpd, hopefully up to 100k bpd soon), 15Mmboe of 2025 production hedged at $81.2 / barrel, full year production guidance unchanged even with some unexpected maintenance.
Negatives: production, sales and revenue down broadly across the board compared with 2023. Scarborough project cost estimate increase.
Would like to hear others thoughts.
Ann: Second Quarter 2024 Report, page-4
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