Lundin Petroleum more than doubled its third quarter revenues on the back of strong production figures.
Lundin, which is mainly focused on operations in Norway, said the third quarter average production of 80,400 barrels of oil equivalent (boe) a day was a record high for the company.
At the same time, cash operating costs fell to $7.20 per barrel, a record low.
Revenues totalled $317million, up from $154million in Q3 2015.
Alex Schneiter, president and chief executive of Lundin, said: “Our third quarter operational performance has again delivered excellent results driven by a continued strong performance from the Edvard Grieg field and our other main producing assets delivering at or above expectation.
“We remain firmly on track to achieve our full year production guidance and given the strong performance we are revising our guidance to between 70,000 and 75,000 boepd from between 65,000 and 75,000 boepd.”
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