Cash at Bank of US$170.4m was good. We started with US$181m and spent US$171m on GOM.
Some US$88m in Petrobras Deferred Acquisition payment due tomorrow.
Still, negligible cash contribution from GOM for the quarter. I'd optimistically hope for ~US$40m for Q1CY/FY24. A cash balance of somewhere under US$300m on 1Apr24 would be sweet.
No mention of future shareholder capital returns but given the likely cash balance at a future dividend payment date of 31Mar, would 10cps special dividend for the TY23 really be excessively optimistically overuprampish?
Given 800m SOI, that's only A$80m or ~US$53.
Oil price rising due to Polar Vortex hitting USA and shutting down production. That won't last.
"U.S. crude oil production plummeted 1 million bpd to average just 12.3 million bpd in the week ending January 19—falling to the lowest point since June of last year thanks to the cold snap that took production offline throughout the nation"
https://oilprice.com/Energy/Energy-General/US-Oil-Gas-Drillers-Add-1-More-Rig-As-Production-Plummets.html
Cash at Bank of US$170.4m was good. We started with US$181m and...
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