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.
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