BG Group plc (ADR) (OTCMKTS:BRGYY) managed to close in the positive territory for the day as it finished the last trading session with a minor gain of 0.31%. The volume of the day at 168,000 was much lower than the daily average of 229,000, indicating the indifference of the investors at this point of time. That kind of volume pattern is very normal in a corrective state, especially when a contracting range is being developed, just like the one seen on the chart attached. The contraction of price also indicates the collapse of volatility and both of these two can be expected to expand in the coming weeks.
Not long ago, BG Group plc (ADR)(OTCMKTS:BRGYY) announced financial results for 2Q2015. The biggest highlight of the quarterly results was the unexpected downfall in company’s EBITDA. As per the reports, it was down 39% and touched $1 138 million.
Other Highlights of 2Q2015
In terms of production, BG Group did reasonably well as its E&P production increased 19% to 703 kboed. Based on this performance, BG Group increased its full year guidance to 650 – 690 kboed range. When it comes to E&P production, Australia accumulated 80 kboed while Brazil accounted for 143 kboed.
The senior management team of BG Group was delighted to announce the results and hoped that the numbers would continue to grow in the future as well. According to Helge Lund, Chief Executive Officer, BG Group, it was a great quarter for the company as it achieved many milestones. Production level in key markets like Brazil and Australia almost doubled, which inspired BG Group to uplift the yearly guidance to a new level.
Revenue And Other Financial Numbers
BG Group’s revenues and other operating income in 2Q2015 came down to $3979 million, 28% lesser than last year’s numbers. Total earnings per share for the quarter were 12.6c, 65% lesser than last year’s numbers. The negative growth continued in cash flow from operating activities as well. Company’s net cash flow from operating activities came down by 56% in 2Q2015 to touch $926 million.
Company’s capital investment on a cash basis in this quarter was $1470 million, 41% lower than the numbers posted in 2Q2014. The investment was completely in the upstream segment and comprised of $153 million invested in exploration activities and $1 317 million invested in development activities.
Based on these numbers, the board has decided to distribute interim dividend on 14.38 cents per share. BG Group is committed to improving this performance in the coming quarters.
