A "steady as she goes" report. Some highlights:
1. With 3 qtrs gone, WPL will, discounting any catastrophic failures, hit its revised production target of between 87 to 91 mmboe. (Its current run rate is 88.6)
2. With revenue at $1.157B , capex at $281m and costs at (by my calc) $243, free cash flow is about $633m. for a qtr, that is impressive, and will help to continue to strengthen the balance sheet ready for the large CAPEX coming up.
3. The plan is coming to fruition. While it will take some time to execute, Browse, Scarborough, Senegal and Enfield are all progressing. Myanmar is also promising, but appears to currently be a "sleeper".
HT1
