Dana Gas receivables in Egypt reach $283 million in Q1 2017

Dana GasDana Gas said Thursday that total receivables in Egypt increased in the first quarter of fiscal year 2017 to $283 million, compared to $265 million in Q1-2016.
The company has collected $13 million during Q1-2017, about 42% of total dues, according to a statement.

“Dana Gas Egypt’s production was solid in Q1-2017. The onshore gas processing plant capacity at El Wastani remained at maximum output. Total output for the first quarter was 40,950 barrels of oil equivalent per day (boepd), a 24% increase on the 33,000 boepd output in Q1-2016,” the statement added.

Dana Gas reported on Thursday a net profit of $11 million for Q1-2017, rising 83% compared to $6 million for Q1-2016.

(Source: Mubasher)

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