ABG har mod betaling udarbejdet denne analyse af Maha Energy:
- Q2e production -14% q-o-q
- Q2e EBITDAX -6% q-o-q, as oil prices offset partially
- Discounts oil at USD 48/bbl
Soft Q2 production expected
Based on monthly production data from the Brazilian government, we estimate that Maha’s Q2 production is -14% q-o-q, to 3,202boe/d, with May production from Tie being particularity weak (down 23% vs. Q1 average). However, as better oil prices partially offset the reduced production, we estimate a Q2’21e EBITDAX of USD 9.1m, a 6% reduction q-o-q. This leaves us below FactSet consensus at USD 12.1m for the quarter.
Generalt om Commissioned Research: Bemærk, at man bør se bort fra eventuelle kursestimater i såkaldt commissioned research, og den underliggende analyse skal også tolkes med forsigtighed, da negative aspekter ikke nødvendigvis fremhæves.
