Tethys Oil: First revenue contribution from Al Jumd - ABG

Q3'23 report due on Tuesday 7 November
First revenue contribution from Al Jumd in Q3e
P/NAV of 0.65x, discounts Brent of USD 60/bbl


Q3'23 production slightly below our estimate

Tethys Oil recently pre-announced its production numbers for Q3, which were somewhat below our last-published estimates. Net production was 8.5kboe/d vs. ABGSCe of 9.0kboe/d, and the net entitlement was 4.4kboe/d, also below ABGSCe of 4.7kboe/d. This was somewhat expected given the monthly production updates Tethys is providing, however. We now estimate FY'23 production of 8.9kboe/d (9.1kboe/d) which is slightly below the mid-range of the current FY'23 guidance of 9.0 (+/-0.2) kboe/d.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/tethys-oil/Equity-research/2023/10/tethys-oil---first-revenue-contribution-from-al-jumd/