🔄 Watchlist Update: PetroNor (PNOR.OL)
Infill Drilling Could Lift Output by 35%, Dividend Decision Near
PetroNor released its Q1 production update today. While output declined slightly due to natural field dynamics, the story is increasingly forward-looking – with a high-impact drilling campaign kicking off soon and a likely dividend announcement around the corner.
Q1 Production in Line with Expectations
Net production (PNGF Sud): 4,321 bopd
Working interest (PNGF Sud): 16.83%
Implied gross field output (PNGF Sud): ~25,673 bopd
Production efficiency (PNGF Sud): 90% (up from 86% in 2024)
The drop from Q4 (4,759 bopd) reflects natural reservoir decline. However, the improved efficiency rate is encouraging and supported by ongoing well reinstatement efforts.
