BlueNord: Second Quarter 2023 Production Update and Revised Production Guidance

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Jun 07, 2023, 02:55 ET

OSLO, Norway, June 7, 2023 /PRNewswire/ -- BlueNord ASA ("BlueNord" or the "Company") today announced preliminary production for April and May 2023 of 22.6 thousand barrels of oil equivalent per day (mboepd) including a revised quarterly production guidance for 2023 as described below.

The planned Halfdan re-route was completed ahead of schedule, with more limited impact on Dan and Halfdan production than expected. In addition, the underlying well potential has increased with both a higher than expected effect from the Gorm restimulation campaign and additional restimulation campaigns on Dan. As a result of this, combined with the continued strong performance across the portfolio, the Company has revised and increased its quarterly production guidance for 2023, and based on current assumptions expects production for Q2 – Q4 2023 as follows:

(mboepd)	Current Guidance	Previous Guidance
Q2 2023	22.5 - 23.5	20.0 - 21.5
Q3 2023	24.0 - 25.0	22.5 - 24.0
Q4 2023	26.0 - 27.0	24.5 - 26.0

"I am delighted to confirm that the high level of well intervention and stimulation activity during 2022 and 2023 has delivered higher than expected production gains and we are seeing increased longer term well potential on both the Dan and Gorm fields. Combined with the efficient execution of the Halfdan re-route project and high production uptime we have increased our current expectation of 2023 production," said Marianne Eide, Chief Operating Officer in BlueNord.

BlueNord will announce its second quarter 2023 results on 12 July 2023.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Cathrine Torgersen, Executive Vice President Investor Relations & ESG, BlueNord ASA, at the date and time as set out above.

Contact:
Cathrine Torgersen, EVP Investor Relations & ESG
Phone: +47 915 28 501
Email: [email protected]

About BlueNord ASA
BlueNord is a strategically important European oil and gas company that specialises in producing and developing energy resources, and in activities which support the energy transition. The Company operates in the Danish North Sea with a 36.8 percent interest in the Danish Underground Consortium (DUC). BlueNord is listed on the Oslo Stock Exchange and trades under the ticker "BNOR". For further information, please visit: www.bluenord.com.