By John Lee.
DNO has issued an update on production and sales volumes for the quarter as well as other key financial information.
Volumes (boepd):
| Gross operated production | Q1 2022 | Q4 2021 | Q1 2021 |
| Kurdistan | 106,465 | 107,472 | 111,985 |
| North Sea | – | – | – |
| Net entitlement production | Q1 2022 | Q4 2021 | Q1 2021 |
| Kurdistan | 26,670 | 29,367 | 28,593 |
| North Sea | 12,700 | 13,571 | 15,173 |
| Sales | Q1 2022 | Q4 2021 | Q1 2021 |
| Kurdistan | 26,670 | 29,367 | 28,593 |
| North Sea | 10,689 | 23,289 | 10,953 |
Selected cash flow items
During the quarter, DNO received USD 206.6 million net from the Kurdistan Regional Government, of which USD 160.7 million represents the entitlement share of October, November and December 2021 Tawke license crude oil deliveries.
Of the balance, USD 13.8 million represents override payments equivalent to three percent of gross October and November 2021 Tawke license revenues and USD 32.1 million represents payments towards arrears built up from non-payment of certain invoices in 2019 and 2020.
DNO paid one tax installment of USD 12.6 million in Norway as tax losses for 2021 ended lower than estimated tax losses that were the basis for tax refunds received during H2 2021.
The Company paid a dividend of NOK 0.20 per share, totaling USD 22.2 million.
(Source: DNO)
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