BW Energy: Q1 2025 operational update
| Source: BW Energy Limited
Q1 2025 operational update
BW Energy will publish financial figures for Q1 2025 and host a presentation at Hotel Continental, Oslo, on Monday, 5 May 2025.
Net production to BW Energy was 3.2 million barrels of oil (mmbbls) in Q1 2025, equal to 36,000 bbls per day, from the Dussafu licence in Gabon (73.5% working interest) and the Golfinho field (100% working interest) in Brazil.
| Volume (mmbbls) | Q1 2025 | Q4 2024 |
| Net Production | 3.2 | 3.1 |
| Dussafu | 2.6 | 2.5 |
| Golfinho | 0.7 | 0.6 |
| Net volume sold | 3.7 | 3.2 |
| Dussafu* | 3.2 | 2.7 |
| Golfinho | 0.5 | 0.5 |
| Average realised price (USD/bbl) | ||
| Dussafu | 74.8 | 72.5 |
| Golfinho | 75.0 | 83.5 |
*Includes State Profit Oil and DMO deliveries
DUSSAFU
GOLFINHO
MAROMBA
HEDGING, LIQUIDITY AND DEBT
- Entered into a new and increased Dussafu RBL facility
Period-end gross debt of USD 583 million includes MaBoMo lease, Dussafu RBL, Golfinho prepayment facility and bond debt
For further information, please contact:
Brice Morlot, CFO BW Energy
+33.7.81.11.41.16
[email protected]
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
1) Operational costs exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments
