{"id":647541,"date":"2017-05-14T04:01:27","date_gmt":"2017-05-14T04:01:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/dana-gas-net-income-nearly-doubles-output-increases-by-16-in-1q2017\/"},"modified":"2017-05-14T04:01:27","modified_gmt":"2017-05-14T04:01:27","slug":"dana-gas-net-income-nearly-doubles-output-increases-by-16-in-1q2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/dana-gas-net-income-nearly-doubles-output-increases-by-16-in-1q2017\/","title":{"rendered":"Dana Gas net income nearly doubles, output increases by 16% in 1Q2017"},"content":{"rendered":"

Dana Gas\u2019 output increased by 16% y-o-y to 69,900 boepd in 1Q2017 driven by increased production from Egypt, according to Bloomberg<\/a>. The company\u2019s net income in 1Q2017 rose to AED 40 mn, from AED 22 mn a year earlier. Dana Gas says it is owed USD 1 bn from Egypt and Kurdistan, up from USD 982 mn at the end of 2016, because payments from Egypt slowed, CEO Patrick Allman-Ward said. He added that new investment in Egypt will depend on the country\u2019s ability to pay for current deliveries. The also said it has started refinancing discussions with the holders of its USD 700 mn sukuk maturing in October. \u201cThe lack of collections had raised concerns over the company\u2019s ability to repay the dollar sukuk over the past few months, which put downward pressure on the price of the company\u2019s outstanding Islamic debt,\u201d Reuters<\/a> says.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dana Gas\u2019 output increased by 16% y-o-y to 69,900 boepd in 1Q2017 driven by increased production from Egypt, according to Bloomberg. The company\u2019s net income in 1Q2017 rose to AED 40 mn, from AED 22 mn a year earlier. Dana Gas says it is owed USD 1 bn from Egypt and Kurdistan, up from USD […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647541","post","type-post","status-publish","format-standard","hentry","category-energy","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"044862ba-55ff-48c9-a798-8e173d5bfeb3","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[647518],"teaser":"","voice_url":""},"yoast_head":"\nDana Gas net income nearly doubles, output increases by 16% in 1Q2017 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/dana-gas-net-income-nearly-doubles-output-increases-by-16-in-1q2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dana Gas net income nearly doubles, output increases by 16% in 1Q2017\" \/>\n<meta property=\"og:description\" content=\"Dana Gas\u2019 output increased by 16% y-o-y to 69,900 boepd in 1Q2017 driven by increased production from Egypt, according to Bloomberg. 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Dana Gas received a USD 50 mn payment from the Egyptian government, according to a regulatory filing. 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The energy company was hoping to raise over USD 500 mn from\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628841,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/dana-gas-announces-end-of-legal-battle-with-holders-of-its-usd-700-mn-sukuk\/","url_meta":{"origin":647541,"position":2},"title":"Dana Gas announces end of legal battle with holders of its USD 700 mn sukuk","author":"enterpriseam admin","date":"15 May 2018","format":false,"excerpt":"Dana Gas announced yesterday that it has reached a settlement agreement that will end the legal battle with holders of its USD 700 mn sukuk, the company said in a statement (pdf). \u201cA committee representing bondholders agreed on terms that offer two options to creditors,\u201d according to Bloomberg. \u201cThe first\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596549,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/egypt-pays-dana-gas-usd-38-mn-in-owed-arrears\/","url_meta":{"origin":647541,"position":3},"title":"Egypt pays Dana Gas USD 38 mn in owed arrears","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"Egypt has paid Dana Gas USD 38 mn in overdue arrears in June, the company said yesterday. The Emirati company\u2019s total revenues from its month\u2019s operations in Egypt reached USD 48 mn as it has also made USD 10 mn from selling natural gas condensate. Dana Gas received a total\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570999,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/dana-gas-plans-to-use-proceeds-of-egyptian-asset-sale-to-pay-sukuk\/","url_meta":{"origin":647541,"position":4},"title":"Dana Gas plans to use proceeds of Egyptian asset sale to pay sukuk","author":"enterpriseam admin","date":"26 April 2020","format":false,"excerpt":"The UAE\u2019s Dana Gas confirmed in a bourse statement (pdf)on Thursday that it intends to use proceeds from the (reportedly delayed) sale of its Egyptian assets to pay down outstanding sukuk due in October. Dana had initially expected the sale to be completed by the end of March, we reported\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621710,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/15\/egypt-pays-dana-gas-usd-111-mn-in-arrears-in-9m2018\/","url_meta":{"origin":647541,"position":5},"title":"Egypt pays Dana Gas USD 111 mn in arrears in 9M2018","author":"enterpriseam admin","date":"15 November 2018","format":false,"excerpt":"Egypt paid Dana Gas USD 111 mn in arrears owed in 9M2018, the company said in its earnings release on Wednesday (pdf). The story comes as Egypt has been stepping up payments to international oil companies (IOCs), with arrears to oil producers have fallen to their lowest levels yet, coming\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=647541"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647541\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/647518"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=647541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=647541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=647541"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=647541"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=647541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}