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Wintershall Dea says will keep up cheap production costs

Reuters
·1-min read

FRANKFURT (Reuters) - Wintershall Dea will aim for low production costs of oil and gas in the coming years after an 18% fall in the first quarter to 3.2 euros ($3.86) per barrel of oil equivalent (boe), chief finance officer said on Tuesday.

The remainder of the year 2021 would be at 4 euros or below, as strong production volumes achieved in the first quarter would not be sustainable, CFO Paul Smith told Reuters. He said 3.5 euros were feasible in the medium term.

The production costs put Wintershall Dea, which is seeking a public listing at a yet unidentified date, in the top 10% of global hydrocarbon producers.

($1 = 0.8283 euros)

(Reporting by Vera Eckert; Editing by Riham Alkousaa)