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“We have a strong financial position with a diverse portfolio of assets and capacity to fund our
growth initiatives”
One of the core principles of AWE’s sustainability policy is the delivery of superior, sustainable returns for shareholders. AWE has delivered strong operating cash flows year on year and has maintained a strong balance sheet position despite challenging global financial conditions.
The key highlights of AWE’s economic performance for 2012 include:
- Production of 4.7 million BOE generating sales revenue of $298 million
- Net field contribution (Field EBITDAX) of $188 million achieved from a diverse and stable asset portfolio
- Strong cash flows of $123 million from our core producing assets
- Reinvestment in development and exploration of $211 million to secure future sustainable cash flows
- Cash position of $43 million plus undrawn facilities of $284 million providing significant capacity in AWE’s balance sheet to fund future growth opportunities
- At 30 June 2012, the Company held 2P reserves of 56 million BOE and 2C resources of 133 million BOE, an increase in total reserves and resources of 45 million BOE during the 2012 financial year. Read more...
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