Q3 EBITDA 16.4m vs ABGSCe 15.4m
Tethys Oil reports Q3'23 working interest production of 8.5boe/d, in line with our expectations. Note that Tethys already has preannounced production, lifted volumes and realised prices ahead of today's report. Q3 revenues of USD 31.8m was in line with ABGSCe of USD 31.8m. EBITDA in the quarter came in at USD 16.4m, 6% above ABGSCe of USD 15.4m, with the beat being explained by slightly lower costs. FCF in Q3 was in line and amounted to USD -6.1m (SEK -2.0/sh), vs ABGSCe of USD -5.2m (SEK -1.7/sh). There are no available consensus estimates that are updated ahead of the quarter. In sum, we evaluate the Q3'23 numbers to be in line with our expectations. See the deviation table below for more details.
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