In FY17, the operating performance of the company’s core business was satisfactory and the underlying financial performance largely in line with expectations. However, the continued low oil price outlook resulted in significant non-cash impairments and a statutory net loss.
To see AWE’s complete financial results for FY17, please click here.
Increase in Waitsia 2P Reserves to 38.1 MMboe*
2C Contingent Resources^
Reduction in Operating Costs
Reduction in Total Investment Expenditure+
Lost Time Injuries and Significant Environmental Incidents
* Announced 9 August 2017, AWE share ^ At 30 June 2017 + Capital expenditure plus exploration expenditure
AWE’s Half Year 17 results: David Biggs, AWE’s CEO and Managing Director, discusses the company’s financial results, operating performance and outlook
Our strategy of building a portfolio of assets with diversity of product and geography provides us with a level of resilience and flexibility to manage change in volatile markets