PetroNor E&P sells oil for $33.1 million from West African assets

PetroNor E&P ASA confirmed the sale of 540,079 barrels of oil from the Djeno Terminal, generating a cash inflow of $33.1 million. The realized price per barrel for this transaction was $61.3.

The Africa-focused independent oil and gas exploration and production company holds exploration and production assets in West Africa, specifically the PNGF Sud licenses in Congo Brazzaville, the A4 license in The Gambia, and OML-113 in Nigeria. A portion of the oil produced from the PNGF Sud licenses is allocated to pay royalties and tax to the government, with the remaining "entitlement oil" available for the company to lift and sell in the market.