DOME ENERGY PRESENTS Q3-REPORT 2016
THIRD QUARTER
- Revenue from oil & gas production $1,235’ (3,003’).
- Gross result from production $571’ (1,387’) with a margin of 46% (46%).
- EBITDA of -$124’ (1,961’).
- EBITDA for US operations amounted to $271’ (680’).
- Net result of -$987’ (-192’).
- Earnings per share -$0.03 (-0.01).
FIRST NINE MONTHS
- Revenue from oil & gas production incl. realized derivatives of $2,332’ (9,675’).
- Gross result from production incl. realized hedges $233’ (5,760’) with a margin of 10% (60%).
- EBITDA of -$2,293’ (1,904’).
- EBITDA for US operations adj. for all derivatives amounted to $232’ (1,243’).
- Net result of -$7,292’ (-3,015’).
- Earnings per share -$0.21 (-0.09)
SIGNIFICANT EVENTS DURING THE QUARTER
- Commitment letter signed for debt refinancing (pressrelease October 7, 2016).
- Volumes more or less in line with previous quarter but still significantly lower than previous year due to un-economical wells.
- Signs of stabilization of the oil and gas market continued in third quarter.
SUBSEQUENT EVENTS
- Negotations with lenders regarding closing of refinancing agreement to be finalised in a near future.
- Restarted several shut in wells to regain production.
FINANCIAL KEY RATIOS
| USD Thousand | Q3 | Q3 | Q1-Q3 | Q1-Q3 | FY | |
| 2016 | 2015 | 2016 | 2015 | 2015 | ||
| Revenues from oil and gas sales incl realized derivatives | 1 235 | 3 003 | 2 332 | 9 675 | 12 323 | |
| Value change in unrealized derivatives | - | 1 281 | - | 126 | 576 | |
| Gross profit from oil & gas operations incl. realized derivatives | 571 | 1 387 | 233 | 5 760 | 5 819 | |
| Gross margin, % | 46% | 46% | 10% | 60% | 47% | |
| EBITDA | -124 | 1 961 | -2 293 | 1 904 | 808 | |
| EBITDA for the US oil operation (adj. for all derivatives) | 271 | 680 | 232 | 1 243 | -704 | |
| EBIT | -1 277 | 1 594 | -6 269 | -2 514 | -50 516 | |
| EBT | -985 | -192 | -7 310 | -3 015 | -49 983 | |
| Net result | -987 | -192 | -7 292 | -3 015 | -50 333 | |
| EPS (in US$) | -0.03 | -0.01 | -0.21 | -0.09 | -1.46 | |
| Production (boepd) | 586 | 913 | 595 | 1 131 | 1 068 | |
For further information, please contact:
Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com
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 November 30, 2016 08.45 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). 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 and gas reserves in the United States. For more information visit www.domeenergy.com.
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