In KAR's March Quarter Report, KAR provided the following revised guidance for 2024:
In ME's Research Reports dated 29 Jan and 02 May they have:
a. increased Brazil production for 2024 up from 7.3 to 7.7 MMBOE, and
b. decreased Who Dat production on a NRI down from 4.2 to 3.3 MMBOE
in accordance with the above.
ME also provide a breakup of total production on a NWI basis. Adjusting total production for brazil production, the calculated changes in production for Who Dat on a NWI basis are:
That is, using ME's changes in the breakdown of projected Who Dat production converted to NRI and using prices received in the March Quarter, the Who Dat downgrade should result in projected drop in Revenue of US$6.6M and the projected upgrade in production in Brazil should result in an increase in Revenue of US$30.5M. The net effect of changes represent a net projected increase in revenue of US$23.8M.
Regards
SP
In KAR's March Quarter Report, KAR provided the following...
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