Panoro Energy revealed on Tuesday that it has completed its scheduled lifting of approximatelyin at a realized price of $108.50 net per barrel.
The company explained that this is after customary quality adjustments and selling costs and before the effect of hedging, which comprised 200,000 barrels covered by swaps at $104.5 per barrel. The firm also highlighted that this lifting accounts for a “significant portion” of its 2022 total expected sales volume.
Commenting on this,, CEO of Panoro, remarked: “We are pleased to have recorded our largest ever realised lifting to date with proceeds achieved from one oil cargo”.
Moreover, Panoro disclosed that crude oil liftings will take place in the second half of the year, with no “major” crude oil liftings having been undertaken in the second quarter
When it comes to Panoro’s most recent activities, it is worth reminding that the London-based player completed the sale of its interests offshore Nigeria earlier this month to PetroNor.