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Robust indicators that the Tie wells are onstream - Maha Energy - Penser

Lowest production levels since 2018 but robust indicators that workover is completed At 2 389 BOEPD, production levels in Q3 were the lowest since Q3 2018 and the company lowers guidance to 3 000-3 400 BOEPD for 2022. Although workover cost and lost production in the Tie field impacted production and EBITDA negatively, with the workover program completed and with signs that the wells in Tie are back onstream we should see production levels pick up coming quarters. With the lower levels in Q3 and a lower base we cut 2022-2024 EBITDA by 15-20%.

Lowest production levels since 2018 but robust indicators that workover is completed At 2 389 BOEPD, production levels in Q3 were the lowest since Q3 2018 and the company lowers guidance to 3 000-3 400 BOEPD for 2022. Although workover cost and lost production in the Tie field impacted production and EBITDA negatively, with the workover program completed and with signs that the wells in Tie are back onstream we should see production levels pick up coming quarters. With the lower levels in Q3 and a lower base we cut 2022-2024 EBITDA by 15-20%.
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