Egypt Western Desert
Information pack: 2021 actuals and 2022 guidance
March 2022
Section title
Disclaimer
These materials contain forward-looking statements regarding Capricorn, our corporate plans, future financial condition, future results of operations, future business plans and strategies. All such forward-looking statements are based on our management's assumptions and beliefs in the light of information available to them at this time.
These forward-looking statements are, by their nature, subject to significant risks and uncertainties and actual results, performance and achievements may be materially different from those expressed in such statements. Factors that may cause actual results, performance or achievements to differ from expectations include, but are not limited to, regulatory changes, future levels of industry product supply, demand and pricing, weather and weather related impacts, wars and acts of terrorism, development and use of technology, acts of competitors and other changes to business conditions.
Capricorn undertakes no obligation to revise any such forward-looking statements to reflect any changes in Capricorn's expectations with regard thereto or any change in circumstances or events after the date hereof.
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Egypt Western Desert Information Pack
Egypt 2021 production actuals
AESW | |||||||||
Obaiyed | NUMB BED Area | NEAG | Area | NM | NAES | TOTAL | |||
Production | |||||||||
Production/day - WI, average from completion | boe/d | 12,290 | 1,210 | 14,680 | 2,160 | 6,130 | 0 | 0 | 36,470 |
Entitlement production/day | boe/d | 4,580 | 490 | 5,890 | 1,080 | 2,460 | 0 | 0 | 14,500 |
Opex | |||||||||
Opex / boe | US$/boe | 3.7 | 5.0 | 7.0 | 14.6 | 4.8 | 0.0 | 0.0 | 6.0 |
Capex | |||||||||
Capex | US$m | 1.2 | 0.0 | 10.4 | 1 | 2.5 | 0.0 | 0.4 | 15.4 |
Total production oil versus gas | |||||||||
Oil | |||||||||
Production/day - WI, average from completion | boe/d | 1,930 | 80 | 9,190 | 1,530 | 1,200 | 0 | 0 | 13,930 |
Entitlement production/day | boe/d | 600 | 40 | 3,450 | 770 | 490 | 0 | 0 | 5,350 |
Gas | |||||||||
Production/day - WI, average from completion | scf/d | 58,194 | 6,326 | 30,820 | 3,508 | 27,733 | 0 | 0 | 126,580 |
Production/day - WI, average from completion | boe/d | 10,360 | 1,130 | 5,490 | 630 | 4,930 | 0 | 0 | 22,540 |
Entitlement production/day | boe/d | 3,980 | 450 | 2,440 | 310 | 1,970 | 0 | 0 | 9,150 |
Figures represent actual production metrics in respect of Egypt asset portfolio from acquisition (23 September 2021) to 31 December 2021
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Egypt Western Desert Information Pack
Egypt 2022 production guidance
Indicative split by area based on mid case of 37,000 to 43,000 boe/d production and $90-110m capex guidance | |||||||||
Obaiyed | NUMB | BED Area | NEAG | AESW Area | NM | NAES | TOTAL | ||
Production | |||||||||
Production/day - WI | boe/d | 12,150 | 1,390 | 17,600 | 2,410 | 6,450 | 0 | 0 | 40,000 |
Entitlement production/day* | boe/d | 4,430 | 510 | 6,420 | 890 | 2,350 | 0 | 0 | 14,600 |
Opex | |||||||||
Opex / boe | US$/boe | 4.0 | 0.0 | 4.3 | 16.6 | 4.2 | 0.0 | 0.0 | 5.2 |
Capex | |||||||||
Capex | US$m | 21.2 | 0.2 | 47.7 | 10.7 | 9.1 | 0.0 | 8.1 | 97.0 |
Total production oil versus gas | |||||||||
Oil | |||||||||
Production/day - WI | boe/d | 1,820 | 70 | 11,310 | 1,870 | 1,500 | 0 | 0 | 16,570 |
Entitlement production/day | boe/d | 660 | 20 | 4,120 | 690 | 550 | 0 | 0 | 6,040 |
Gas | |||||||||
Production/day - WI | scf/d | 57,840 | 7,410 | 35,220 | 3,020 | 27,750 | 0 | 0 | 131,240 |
Production/day - WI | boe/d | 10,330 | 1,320 | 6,290 | 540 | 4,950 | 0 | 0 | 23,430 |
Entitlement production/day | boe/d | 3,770 | 490 | 2,300 | 200 | 1,800 | 0 | 0 | 8,560 |
- Entitlement interest calculation based on a ~$1.5/bbl oil price discount to an average Brent price of $76.5/bbl for the year, and fixed price gas of ~$2.9/mcf, in addition to assumption for modelling purposes that 75% of opex is expensed, 20% is capitalised and 5% is non-cost recoverable.
Egypt Western Desert information pack March 2022 | 4 |
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Capricorn Energy plc published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 14:12:09 UTC.