Dragon Oil plc, an international oil and gas development and production company, today announced its interim financial and operational results for the period ended 30 June 2011.
Operational performance
Outlook for 2H 2011
Outlook for 2011-13
Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:
“We continue to successfully ramp up production from the Cheleken Contract Area, which in the first six months of this year increased by 25% over the corresponding period in 2010. With five more wells to be completed by the end of the year plus a sidetrack and the workover of an existing well, we are set to achieve strong production growth over last year. The first six months of 2011 were also a record in terms of revenues generated: the best ever result over comparable periods due to the continued strong production growth and high realized oil prices. On the gas monetisation front, we are looking at a dual strategy, which would involve a short-term agreement, reflecting the current weak global gas demand, and then a long-term agreement more in line with gas export marketing. We remain prudent in our M&A strategy and only target those opportunities that offer value-adding diversification and growth potential.”
[mappress] Source: Dragon Oil, August 10, 2011;