The British oil and gas company Enwell Energy plc (formerly Regal Petroleum) with assets in Ukraine in 2020 increased average daily hydrocarbon production by 6.5% compared to 2019, to 4,541 barrels of oil equivalent per day (boepd), the press service of Smart Energy said.
According to the company’s announced production and financial audited results for 2020, its net profit decreased by 3.8 times (by $ 9 million) compared to 2019, to $ 3.2 million, income – by 15.4% (by $ 8.6 million), to $ 47.3 million.
“During the reporting period, the company demonstrated strong financial performance despite the fact that the growth in gas production was offset by a significant decline in gas prices during the year,” the press release says.
The company also notes that despite gas prices, cash flow from operating activities in 2020 remained approximately at the same level as in the previous year – $ 23.8 million against $ 24.7 million.
