Q3 a small positive
Q3 EBITDA of USD395m was in line with consensus and our forecast. Net debt was 13% below consensus due to a tax refund and positive WC movements. The 2017 guidance was changed to the upper half of 135–140kboed (135–140kboed) and the decommissioning guidance was lowered to USD80m–90m (USD100m–110m). We expect limited effect on consensus on the back of Q3, and we expect a positive share price reaction of 1–2% today due to the positive guidance revisions and EPS above expectations. A conference call is scheduled for 08:30 CET (www.akerbp.com).Aker BP ASA engages in the exploration, development, and production of petroleum resources on the Norwegian Shelf. In addition, Co. has a separate Johan Sverdrup business unit to manage its interest.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.