DGAP-News: ADM Energy PLC: Full Year Results
Retrieved on:
Thursday, June 23, 2022
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This temporary suspension is a necessary step to ensure future production is not limited by FPSO capacity and production issues.
Key Points:
- This temporary suspension is a necessary step to ensure future production is not limited by FPSO capacity and production issues.
- In April 2021, ADM completed the acquisition of an indirect interest in a Risk Sharing Agreement ("RSA") for the development of the Barracuda Field.
- Xodus calculated gross, unrisked Prospective Resources for the RSA using standard geological and engineering approaches applied to the data made available by ADM.
- In addition, and as part of its investment strategy, ADM remains open to potential renewable energy investments, primarily in Europe, if there is an opportunity to bring additional value to shareholders.