PTT Exploration and Production Public Company Limited Reports Production and Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Production Guidance for the first Quarter and Full year of 2017
For the full year, the company reported total revenue of $4,339 million, sales revenue of $4,190 million, EBITDA of $3,027 million, net profit of $372 million or $0.07 per basic share and profit from normal operation of $466 million against total revenue of $5,614 million, sales revenue of $5,287 million, EBITDA of $3,844 million, net loss of $854 million or $0.21 per basic share and profit from normal operation of $718 million a year ago. Sales decrease from 2015 mainly due to lower average selling prices which fell from 45.29 USD/BOE in 2015 to 35.91 USD/BOE in 2016.
For the full year, the company reported sales volume stood at 319,521 barrels of oil equivalent per day (BOED), a similar level to that of 2015.
For the quarter, the average sales volume decreased when compare to the same period in 2015 of 336,363 BOED, primarily from the PTTEP Australasia and Oman 44 Projects. The average selling price also decreased to 35.65 USD/BOE. due primarily to an overall decrease in the global market of the crude oil price.
For the first quarter of 2017, the company expects sales volume to be 310,000 BOED.
For the full year of 2017, the company expects sales volume to be 312,000 BOED.