Lundin Petroleum Q4 Core Profit Lags Forecasts
STOCKHOLM, Feb 5 (Reuters) – Swedish oil firm Lundin Petroleum reported fourth quarter core earnings slightly below expectations on Wednesday and repeated its production forecasts for 2014.
Lundin, which has a large stake in the giant Johan Sverdrup find in the Norwegian North Sea, said earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $219 million versus a mean forecast in a Reuters poll of $223 million and $290 million in the year-ago period.
The company repeated its 2014 production guidance of 30,000 to 35,000 barrels per day (boepd), in line with 2013 production of 32,700 boepd, which it expects to rise above 50,000 boepd in 2015.
Link to report: http://r.reuters.com/xef66v
(Reporting by Sven Nordenstam)
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