Noreco Announces Fourth Quarter 2020 Results
Oslo, 18 February 2021: Norwegian Energy Company ASA ("Noreco" or the "Company") today announced its fourth quarter 2020 results. The fourth quarter financial results delivered revenues of USD 146 million, a positive net result of USD 16 million and an operating cash flow of USD 96 million during the period. Highlights:• Total Revenues of USD 146 million• Adjusted EBITDA of USD 73 million and Net Result of USD 16 million• Cash flow from operating activities of USD 96 million• Realised oil price for the period of 63.6 USD/boe Net hydrocarbon production in the