HIGHLIGHTS
The health and safety of our employees is always our priority and robust precautionary measures remain in place to ensure the continued safety of our staff; to date, there have been zero reported cases of COVID-19 at
2020 annual production guidance remains on track to average between 60 - 70 MMscf/d (gross)
As projected, production volumes were higher in Q3 2020 at 68.8 MMscf/d (gross) compared to 58.3 MMscf/d (gross) for H1 2020, due to increased demand as a result of the lifting of COVID-19 restrictions; production volumes have also risen during Q4 2020
Financial
Interim dividend of
Revenues of
Debt free with
Operational 2020 annual production guidance range of 60 - 70 MMscf/day (gross) remains on track, 63.8 MMscf/d for the period
Remedial repairs to the MB-2 flow line, as a result of a rupture, have been ongoing and are estimated to be completed by the end of the year; there has been no impact on
Low operational cost of production of
Sustainability
During 2020, we have undertaken a strategic review of our ESG priorities and reporting and look forward to publishing our inaugural Sustainability Report for 2020 next year
With an energy access rate of only 37% according to the IEA, population growth set to double by 2050 and an economy shifting from an agricultural to an industrial base, there is a real need for transformational growth in
Wentworth's robust gas-to-power production platform is well-positioned to service this future demand growth, working hand-in-hand with low carbon technologies such as hydropower, for the development of a low carbon energy system that can ensure reliable, affordable access
Wentworth remains focused on identifying sustainable and responsible growth opportunities that create value for
Sustainable Dividend Policy
Since the commencement of Wentworth's dividend policy in
We continue to operate a robust and resilient business due to stable production and reliable cash flows from our long-term fixed gas price contracts. We are especially proud of the strength of the business despite the challenging macroeconomic backdrop, which is reflected in our balance sheet, with zero debt and
During 2020, a priority for myself and the wider team at Wentworth has been to ensure that our net impact on our communities and wider society in
Our ambition is to grow our domestic gas business in
Contact:
Tel: +44 (0) 7841 087 230
About
The power demand base in-country is growing and with an ambitious universal energy access target set by the Government for 2030, Wentworth has a vital role to play in increasing access by ensuring a reliable, affordable and growing supply of natural gas into the local market.
In 2019, Wentworth launched its dividend policy and remains committed to responsible growth that maintains returns for shareholders.
Inside Information
The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ('MAR'). On the publication of this announcement via a
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