Fourth quarter 2021 trading update

Article

FREE Breaking News Alerts from StreetInsider.com!

StreetInsider.com Top Tickers, 6/24/2026

1. CBRS
2. KBH
3. FDX
4. HTZ
5. HON

6. HONA
7. TTWO
8. USO
9. HELP
10. GDYN

Top News Most Read Special Reports

January 24, 2022 10:45 AM EST

E-mail

TRONDHEIM, Norway, Jan. 24, 2022 /PRNewswire/ -- Aker BP will publish its financial report for the fourth quarter 2021 on Thursday 10 February 2022. The company issues this trading update to summarize its production and sales volumes and related topics for the quarter.

Oil and gas production and sales

Aker BP produced 207.0 thousand barrels of oil equivalents per day (mboepd) in the fourth quarter, while net volume sold amounted to 205.1 mboepd. Production was below average in the first half of the quarter due to project activities and various technical issues, but increased towards the end of the year with December volumes above the 2021 full year production of 209.4 mboepd.

Volumes (mboepd)	Q4-21	Q3-21	FY-21	FY-20
Net production	207.0	210.0	209.4	210.7
Overlift/(underlift)	(1.9)	14.7	2.6	(0.5)
Net sold volume	205.1	224.8	212.0	210.2
Of which liquids	165.4	183.6	173.8	176.4
Of which natural gas	39.7	41.2	38.2	33.8
.
Realised prices	Q4-21	Q3-21	FY-21	FY-20
Liquids (USD/boe)	78.8	71.5	69.2	40.0
Natural gas (USD/boe)	169.5	91.3	88.5	21.8

Costs

Production costs for the oil and gas sold in the fourth quarter are estimated to approximately USD 200 million.

Exploration expenses for the quarter are estimated to approximately USD 85 million.

The company expects non-cash net impairment charges of approximately USD 80 million before tax in the fourth quarter.

Conference call and webcast

The company will host a conference call to present its fourth quarter 2021 results on 10 February 2022 at 08:30 CET. The conference call will be available as a webcast on www.akerbp.com/en. To participate in the conference call, please use the dial-in numbers and passcode below.

Phone number Norway: +47 2350 0347

Phone number UK: +44 (0) 330 336 9600

Participant passcode: 912023

Disclaimer

The information in this statement is based on a preliminary assessment of the company's fourth quarter 2021 financial results. The company has not completed its financial reporting and related review and control procedures. The estimates provided may therefore be subject to change and the financial statements finally approved and released by the company may deviate from the information herein.

CONTACT:

Contacts:

Kjetil Bakken, VP Corporate Finance and Investor Relations, tel.: +47 918 89 889

Jørgen Torstensen, Senior Investor Relations Professional, tel.: +47 954 83 707

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-bp-asa/r/fourth-quarter-2021-trading-update,c3489790

The following files are available for download:

https://mb.cision.com/Main/1629/3489790/1524237.pdf

Release

View original content:https://www.prnewswire.com/news-releases/fourth-quarter-2021-trading-update-301466598.html