BlueNord Announces First Quarter 2024 Results
BlueNord Announces First Quarter 2024 Results |
[07-May-2024] |
OSLO, Norway, May 7, 2024 /PRNewswire/ -- BlueNord ASA ("BlueNord" or the "Company") today published its first quarter of 2024 results. During the quarter, the Company delivered strong operational and financial performance. In addition, first gas from Tyra II was successfully achieved, which means the project has entered a new phase of ramp-up where plateau production is expected in Q4 of 2024. Highlights:
Operational Tyra II Financial "The first quarter of 2024 has been a monumental period for BlueNord, encompassing not only successful restart of Tyra but also representing an achievement nearly five years in the making since we became a partner in the DUC. The delivery of this project showcases the commitment, resilience and perseverance of all involved parties. When Tyra is fully operational, we are set to transform Denmark from a net importer to a net exporter of natural gas, significantly enhancing energy security in the region and offering a less emissions intensive alternative to imported LNG. Furthermore, our underlying portfolio continued to perform strongly, with the added boost from the first infill well on Halfdan that came onstream at the end of this quarter. As we look ahead to the remainder of 2024 and beyond, this moment marks the start of an exciting new chapter. We are poised to more than double our production, and with a substantial increase in free cash flow, we will fulfil our longstanding commitment to shareholder distributions. The strong progress we have seen on the RBL refinancing, particularly given the backdrop for bank lending to the oil and gas industry, is extremely positive and a testament to the strength of our business and its outlook," said Euan Shirlaw, Chief Executive Officer of BlueNord. The report and investor presentation may be downloaded from the Company's website www.bluenord.com or www.newsweb.no. The Company will host a webcast today at 10:00 CEST. To join webcast: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240507_1 Contact: Cathrine F. Torgersen, Chief Corporate Affairs Officer This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Cathrine Torgersen, Chief Corporate Affairs Officer, BlueNord ASA, at the date and time as set out above. This information was brought to you by Cision http://news.cision.com https://news.cision.com/bluenord-asa/r/bluenord-announce-first-quarter-2024-results,c3974451 The following files are available for download:
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Company Codes: Bloomberg:BNOR@NO, ISIN:NO0010379266, Oslo:BNOR, RICS:BNOR.OL |