TAQA H1 2021 Results - Energy Transition and Financial Performance
Oil & Gas highlights
Significant increase in profitability on commodity price rebound and higher volumes
Global production higher at 124.2 mboepd (+1% H1 y/y)
Stronger financial performance on higher volumes and commodity prices
Revenues of US$ 937 million (+76% H1 y/y) reflect recovery in TAQA's realized output oil
and gas prices (oil price +76% H1 y/y to US$ 60.4/bbl; gas price +78% to US$ 3.4/boe)
Higher volumes reflected TAQA's recognition of additional interest in certain fields of the
UK North Sea following a partner default
Net income to the Group of US$ 145 million (H1 2020 loss: US$ 428 million)
D
Oil & Gas highlights (US$ million)
Production (mboepd)
H1 2020PF
H1 2021
Revenues
H1 2020PF
122.4
124.2
532
H1 2021
937
EBITDA
Margin
H1 2020PF
150
28%
Benchmark oil prices (US$/bbl)
Benchmark gas prices (US$/mmBtu)
H1 2021
493
53%
80
80
16
40
60
40
20
Brent
-WTI
60
Henry Hub
Net income (consolidated)
AECO
12
NBP
H1 2020PF
H1 2021
-428
145
8
CAPEX
20
H1 2020PF
150
0
0
H1 2021
125
2020
2021
2020
2021
44
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