May 7, 2020 / 12:19 PM / a month ago

BRIEF-PTT Exploration And Production Posts Qtrly Profit For Period Of US$275.3 Mln

May 7 (Reuters) - PTT Exploration and Production PCL :

* QTRLY TOTAL REVENUES US$1.77 BILLION VERSUS US$1.43 BILLION

* QTRLY PROFIT FOR PERIOD US$275.3 MILLION VERSUS US$394.2 MILLION

* FOR 2020, SEES AVERAGE SALES VOLUME PREVIOUSLY TARGETED TO DECREASE BY ABOUT 7%

* IF LOW-OIL PRICE ENVIRONMENT IS PROLONGED, IT MAY IMPACT PTTEP IN FUTURE PERIODS

* ENTERED INTO OIL PRICE HEDGING CONTRACTS FOR CERTAIN CRUDE OIL PORTION TO COPE WITH DOWNSIDE

* REVISED INVESTMENT DOWN AROUND 15-20% FROM ITS ORIGINAL PLAN FOR YEAR

* THAILAND DOMESTIC ENERGY DEMAND FROM MARCH TO 2020-END EXPECTED TO DECLINE DUE TO COVID-19 OUTBREAK

* WITH CASH COST OF ABOUT $15/BOE, CO CAN MAINTAIN OPERATING CASH FLOW WITH EBITDA MARGIN AT 65-70% Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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