Second Quarter Key Points
- Cash flow from operations up 21% to $3 121 million, earnings down 4% to $1 073 million
- E&P production up 4% to 61.3 mmboe
- Interim dividend per share increased 10% to 11.88 cents (7.64 pence)
- $1.3 billion non-cash post-tax impairment on US shale gas assets, based on lower price premise
- 2012 production exit rate lowered from 750 to 720 kboed, driven by Elgin, Jasmine and USA
- 2012 LNG total operating profit now expected at the upper end of $2.6 billion to $2.8 billion range
- Continuing good progress in execution of the funding plan; gearing reduced to 24.9%
- $4.5 billion FPSO topside contracts approved in Brazil; tenders for additional FPSO announced
- Latest contract awards and drilling improvements affirm BG Group's capex estimates for Brazil
- Fifth successive gas discovery in Tanzania
