Shell Now Expects Q1 2024 Production At Integrated Gas Of 960-1,000 kboe/d (Prior 930-990 kboe/d) And Upstream Of About 1,820 - 1,920 kboe/d (Prior 1,730 -1,930 kboe/d)
Portfolio Pulse from Benzinga Newsdesk
Shell has updated its Q1 2024 production outlook, increasing its forecast for both Integrated Gas and Upstream segments. Integrated Gas production is now expected to be between 960-1,000 kboe/d, up from the previous 930-990 kboe/d. Upstream production forecast has been adjusted to about 1,820-1,920 kboe/d, slightly narrowed from the prior 1,730-1,930 kboe/d range. The company also provided financial outlooks, including adjusted EBITDA, operating expenses, and adjusted earnings for both segments, indicating strong trading and optimization results, albeit lower than Q4’23.
April 05, 2024 | 7:22 am
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Shell has revised its Q1 2024 production forecasts upwards for both its Integrated Gas and Upstream segments, indicating a positive outlook on its operational capabilities and potential financial performance.
The upward revision in production forecasts for both Integrated Gas and Upstream segments suggests Shell is expecting stronger operational performance than previously anticipated. This could lead to increased investor confidence and potentially a positive impact on Shell's stock price in the short term. The detailed financial outlook, including expected strong trading and optimization results, further supports this positive outlook, although it's noted to be lower than an exceptional Q4’23.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100