Dana Gas Focuses on Production Growth Amid Low Oil Price

摘要

Abu Dhabi-listed Dana Gas is eyeing production growth and spending cuts despite swinging to a fourth-quarter 2014 loss, as a result of lower oil prices since the second half of last year. Revenue slumped 24% to $142 million dollars in the fourth quarter of 2014, generating a net loss of $4 million compared with a profit of $35 million a year earlier, mimicking other oil and gas producers during the oil price decline (IOD Jan.30'15). Dana's share price closed 4.1% lower on the Abu Dhabi Securities Exchange due to the disappointing results.