Q1 2020 Norwegian Energy Company ASA Earnings Presentation Transcript

May 20, 2020 / 10:00AM GMT

Release Date Price: kr150.5

Transcript

Riulf Rustad

Norwegian Energy Company ASA - Executive Chair

Welcome to the Noreco first quarter presentation of the 2020 results. We've had the quarter, which are basically according to our own expectations. We highlight some of the figures that we sent out earlier this day, it's the average production of 31,900 barrels per day, which is within the range that we previously guided on. We had an adjusted EBITDA of $105 million for the quarter, our operating cash flow was $62 million. And as you have seen previously, our 2P reserves increased to 209 million barrels, giving us an replacement ratio of more than

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