First quarter results 2016
Det norske oljeselskap ASA (“Det norske”) reported revenues of USD 205 (Q1 2015: USD 329) million in the first quarter of 2016. Production in the period was 60.6 thousand barrels of oil equivalent per day, realising an average oil price of USD 37 per barrel.EBITDA amounted to USD 129 (261) million in the quarter and EBIT was USD -23 (86) million, following an impairment of USD 38 (53) million in the quarter. Net profit for the quarter was USD 32 (2) million, translating into an EPS of USD 0.16 (0.01). Net interest-bearing debt amounted to USD 2,584 (1,965) million per March 31, 2016. In