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BFW 01/27 07:12 *BG TOTAL 2013 EARNINGS TO FALL TO $2.2 BLN ON U.S., EGYPT BN 01/27 07:12 *BG TOTAL 2013 EARNINGS TO FALL TO $2.2 BLN ON U.S., EGYPT BN 01/27 07:08 *BG EXPECTS PRODUCTION VOLUMES IN RANGE OF 710-750KBPD IN 2015 BN 01/27 07:06 *BG SAYS 2013 OUPUTVOLUMES EXPECTED IN RANGE OF 590-630KBPD BN 01/27 07:05 *BG EXPECTS 2013 PRODUCTION VOLUMES OF AROUND 633,000 B/D BN 01/27 07:04 *BG EXPECTS TOTAL RESULTS EARNINGS OF $2.2 BLN AFTER IMPAIRMENTS BFW 01/27 07:03 *BG GROUP DECLARES FORCE MAJEURE IN EGYPT BN 01/27 07:03 *BG EXPECTS 4Q CASH IMPAIRMENTS OF $2.4 BLN IN EGYPT, U.S. BN 01/27 07:02 *BG DECLARES FORCE MAJEURE IN EGYPT ON DOMESTIC GAS DIVERSIONS BN 01/27 07:01 *BG GROUP DECLARES FORCE MAJEURE IN EGYPT
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BG Expects 4Q Cash Impairments of $2.4b in Egypt, U.S. 2014-01-27 07:14:01.86 GMT
By Brian Lysaght Jan. 27 (Bloomberg) -- Co issues Force Majeure notices under its LNG agreements in Egypt reflecting the ongoing diversions of gas volumes to the domestic market in excess of pooling arrangements. * Non-cash, post-tax impairments of approximately $2.4 billion associated with Egypt (around $1.3b) and the US (around $1.1b) * 2013 production volumes of around 633 thousand barrels of oil equivalent per day (kboed), in line with guidance * Total results earnings (post impairments) of approximately $2.2 billion (around 65 cents per share) * 2014 production volumes expected in the range of 590 - 630 kboed * 2014 E&P unit operating costs expected to be $15.50 - 16.25 per boe * 2015, BG Group expects production volumes to be in the range of 710-750 kboed excluding portfolio changes, and continues to expect to be free cash flow positiv
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To contact the editor responsible for this story: Brian Lysaght at +44-20-7330-7908 or blysaght@bloomberg.net