Lundin's Profit Slips

摘要

Sweden's Lundin Petroleum said Wednesday it posted a lower-than-expected thirdquarter pretax profit of 124 million Swedish kronor ($18.1 million), down from 766 million kronor a year ago. Production in the first nine months of 2009 totaled 39.1 million boe, up from 32.4 million boe last year. The output increase was offset by higher costs, including 259 million kronor related to unsuccessful exploration and write-downs of assets in Venezuela. Lundin expects production to remain flat for the rest of the year, but increase in the first half of 2010.