Vår Energi reports second quarter 2023 results
Sandnes, Norway, 25 July 2023: Vår Energi ASA (OSE: VAR) delivered a solid performance on operated assets, realised continued high gas prices and met key milestones on the Balder X project in the second quarter. Total income in the quarter was USD 1 436 million in the quarter, a decrease of 31% from the first quarter of 2023, mainly due to lower commodity prices. Profit before taxes was USD 701 million, down 45% compared to the previous quarter. Cash flow from operations (CFFO) was USD 231 million, a reduction from USD 1 358 million in the previous quarter, primarily impacted by lower