DETNF - Norway production report - gas volumes rise while liquids volumes miss targets

The Norwegian Petroleum Directorate released its monthly, country-wide production report for February on Friday, showing rising natural gas volumes and stable liquids volumes. Natural gas production exceeded plan by 9.3%, and rose 1.3% from January levels. Liquids production (USO) missed targets by 150kb/d (7%), but rose 15kb/d from January levels. The Directorate anticipates liquids volumes to fall by ~500kb/d from April to June of this year, before bouncing back and growing through year end. Norway production data provides an important read through for Equinor (EQNR) results, as well as Aker BP (OTCPK:DETNF) and Lundin (OTCPK:LNDNF); all three are likely to benefit from increased exploration drilling this year on the back of an expanded licensing round.

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Norway production report - gas volumes rise, while liquids volumes miss targets