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Tethys Oil

Tethys Oil

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Production, Sales and Entitlement update first quarter 2022

10:00 / 5 May 2022 Tethys Oil Press release

Tethys Oil’s share of production from Blocks 3&4 during the first quarter 2022, before government take, amounted to 942,768 barrels of oil, corresponding to 10,475 barrels of oil per day. The net entitlement, Tethys Oil’s share of production after government take, amounted to 433,052 barrels, corresponding to 46 percent of the total production. A total of 479,544 barrels were sold in the quarter resulting in an Achieved oil price of USD 80.4 per barrel in the period.


Production
(bbl)*
Net entitlement barrels (bbl)** Net sales
(bbl)
Achieved oil price
(USD/bbl)
Q1 2022 942,768 433,052 479,544 80.4
Q4 2021 980,599 432,469 514,683 73.7
Q3 2021 1,037,768 428,121 448,740 66.7
Q2 2021 1,003,750 420,655 477,708 59.7
Q1 2021 1,042,686 518,895 367,726 46.7
Full year 2021 4,064,803 1,800,140 1,808,857 62.8
Full year 2020 4,148,818 2,157,385 2,317,875 47.7

* Before government take
** After government take

Net entitlement is the share of production available for sale by Tethys Oil and is calculated monthly in accordance with the terms of the Exploration and Production Sharing Agreement (EPSA) for Blocks 3&4. The net entitlement will vary depending upon the level of production, oil price and costs incurred during the period. For further explanation of the calculation of net entitlement, see Tethys Oil’s annual report for 2021.

The first quarter interim report 2022 will be published on 10 May 2022.

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