August 6, 2012 / 8:03 AM / 5 years ago

Heritage Oil adjusted loss narrows for first half

1 Min Read

Aug 6 (Reuters) - British explorer Heritage Oil Plc reported a narrower adjusted loss for the first half of the year on higher sales volume and oil prices.

Adjusted loss, excluding $18 million in costs related to a proposed acquisition of oilfield assets in Nigeria, fell to $6.7 million for January-June from $6.9 million a year earlier.

The company said the acquisition of 45 percent interest in a string of oilfield assets, known as OML 30, for $850 million would be completed in the second half.

Net average daily production during the first half rose 35 percent to 567 barrels of oil per day.

Average price per barrel rose 4 percent during the period.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below