Dome Energy AB provides financial update on US operations Q3 2018 and production update for October 2018

Dome Energy AB. (https://www.domeenergy.com) (herein after “Dome” and/or “the Company”) provides financial update on the US operations in Q3 2018

· Sales Oil & Gas: TUSD 2,591, which is down 19% from TUSD 3,184 in Q2.
· Production: 75,914 BOE for Q3, which is 22% lower than in Q2.
· Operating expenses: TUSD 1,060, which is 13% lower than in Q2.
· G&A: TUSD 476, which is in line with Q2.
· EBITDA: TUSD 866, which is down TUSD 643 from Q2, which is related to the lower sales.

Production figures (WI*):

Q3
BOE period 75,914
BOE daily 825
    

GAS mcf 192,027
NGL gallons 175,920
Oil barrels 39,721
Oil in % of total production 52%

(*WI) Working Interest calculated production, before taxes and royalties
  

Certain accruals have been made based on delayed revenue from non-operated assets. During this quarter, gas production dropped more than the actual decline curve which resulted in a large difference between press release reported production and actual numbers from the financial data. Numbers are unaudited and not consolidated with Dome Energy AB.

During October the production of oil was 11,392 BOE and the production of Gas/NGL was 12,610 BOE. In total the production was 24,002 BOE of which 47% oil. The production numbers for the month of October came in at 774 BOEPD. The assets that where divested are excluded. Certain accruals have been made based on delayed revenue from non-operated assets.

Paul Morch, CEO: “Our third quarter was in line with our expectations, with minimal investments made through the quarter. Our new drilling program started in September, and will affect sales for Q4. We are planning to drill a lot more wells in 2019, as long as we see stabile oil prices to secure profitable wells. Our hedge strategy is proving to be important for us, and we have good positions for next year.”

For further information, please contact:
Paul Morch
Phone: +1 713 385 4104
E-mail: [email protected]
 
 ([email protected])

This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person December 5, 2018, 10:00 CET.
  

About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME (http://www.nasdaq.com/symbol/els/dome)). Mangold Fondkommission AB, phone: +46 8 503 01 550, is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore Oil & Gas reserves in the United States. For more information visit www.domeenergy.com.