Equinor reports adj. net income of $780M, raises dividend

Equinor (NYSE:EQNR): Q3 Adj. net income of $780M vs. a consensus of $1.03B.

Raises dividend to $0.11/share from $0.09.

Revenue of $11.34B (-27.4% Y/Y) beats by $1.2B.

EQNR delivered total equity production of 1,994 mboe per day in Q3, up from 1,909 mboe per day in the same period in 2019, with an increased share of gas.

At the end of the Q3 EQNR has completed 26 exploration wells with 13 commercial discoveries and two wells under evaluation. At the quarter end, 16 wells were ongoing.

Outlook: Reaffirms FY20 Organic capex of $8.5B, FY21-$10B, and an average of $12B for 2022-2023. FY20 estimates a total exploration activity level of ~$1.1B.

See Full Report: Equinor third-quarter-2020-financial-statements-and-review

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