Stellar Performance
MEDC succeeded to gain revenues of USD1.02 billion (+10.3% YoY), backed by the oil & gas segment to post surging revenues to USD852.7 million (+12.6% YoY) as lifting & sales increased to 30.6 MBOPD (+17.7% YoY) albeit decreasing ASP to USD62.5/barrel (+9.2% YoY). Meanwhile, cash costs increasing to USD9.5/BOE (+9.2% YoY), whereas Ophir depreciation method that had been adjusted to MEDC’s standard causing EBITDA’s 9M19 to increase to USD477 million (+4.9%) resulted in MEDC’s net profits surging to USD19.2 billion (+73.9% YoY).
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