BOPD in Q1 2021, up 11% from the fourth quarter of 2020;
Closed the transformational acquisition of Sasol’s working interest in the Etame field offshore Gabon (the “Sasol Acquisition”) on February 25, 2021;
Announced the signing of a non-binding Letter of Intent (“LOI”) for a new Floating Storage and Offloading unit (“FSO”) with Omni Offshore Terminals Pte Ltd (“Omni”)
at the Etame field;
Proposal could reduce VAALCO’s operating costs by 15% to 25% when compared to the current FPSO contract during the term of the proposed agreement;
Entered into crude oil commodity swap agreements for a total of 672,533 barrels at a Dated Brent weighted average price of $66.51 per barrel for the period of May 2021 through October 2021;
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Ring Energy Announces First Quarter 2021 Results
Ring Energy, Inc.May 10, 2021 GMT
THE WOODLANDS, Texas, May 10, 2021 (GLOBE NEWSWIRE) Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for the first quarter 2021 and reaffirmed full year 2021 guidance.
Highlights and Recent Key Items
Sold 7,960 barrels of oil equivalent per day (“Boe/d”), or 716,422 barrels of oil equivalent (“Boe”) (85% oil), in the first quarter of 2021, with production significantly impacted by the severe winter storm in February and temporary downtime associated with well completions activity and the conversion of electrical submersible pumps to rod pumps (“CTR”);
Operator
Hello, and welcome to the NRG Energy, Inc. s First Quarter 2021 Earnings Call. Please note that today s meeting is being recorded. [Operator Instructions]
It is now my pleasure to turn today s meeting over to Kevin Cole, Head of Investor Relations. The floor is yours.
Kevin L. Cole
Senior Vice President
Good morning. Thank you, Daphne. Daphne, I believe you were referring to maybe a different earnings call. Good morning, and welcome to NRG Energy s First Quarter 2021 Earnings Call. This morning s call will be broadcast live over the phone via webcast, which can be located in the Investors section of our website at www.nrg.com under presentations and webcasts. Please note that today s discussion may contain forward-looking statements, which are based on assumptions that we believe to be reasonable as of this date. Actual results may differ materially. We urge everyone to review the safe harbor in today s presentation as well as risk factors in our SEC filings. We unde