By John Lee.
DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2023 operating and interim financial results on 9 November at 07:00 (CET). A videoconference call with executive management will follow at 10:00 (CET).
The Company issues below an update on production and sales volumes for the quarter as well as other key financial information that will be further discussed in the earnings call.
Volumes (boepd)
| Gross operated production | Q3 2023 | Q2 2023 | Q3 2022 |
| Kurdistan | 25,984 | 65 | 109,054 |
| North Sea | - | - | - |
| Net entitlement production | Q3 2023 | Q2 2023 | Q3 2022 |
| Kurdistan | 9,897 | 598 | 24,779 |
| North Sea | 14,292 | 10,841 | 13,970 |
| Sales | Q3 2023 | Q2 2023 | Q3 2022 |
| Kurdistan | 9,897 | 598 | 24,779 |
| North Sea | 15,749 | 9,056 | 11,569 |
| Equity accounted production (net) | Q3 2023 | Q2 2023 | Q3 2022 |
| Côte d'Ivoire | 3,373 | 3,532 | - |
Selected cash flow items
Following shutdown of DNO's operated fields in Kurdistan which commenced 25 March, the Tawke field was reopened on 18 July and production has since ramped up. DNO's share of crude oil from the field during the quarter has been sold to local buyers with payments received directly by DNO in advance. No crude oil was delivered to the Kurdistan Regional Government for export by pipeline through Türkiye.
DNO received USD 27.2 million in decommissioning tax refunds in the United Kingdom. In Norway, there were neither tax payments nor refunds in the quarter.
Also during the quarter, the Company paid a dividend of NOK 0.25 per share (totaling USD 23.0 million).
(Source: DNO)
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