Shafaq News / Dana Gas announced on Wednesday that the company's cash balance reached $ 425 million by the end of 2019, representing a 4% increase compared to the cash balance recorded at the end of 2018, which amounted to $ 407 million.
Total payments received from amount overdue on behalf of the company were $ 285 million in 2019, compared to $ 334 million in 2018.
The company's cash balance reached $ 425 million at the end of 2019, representing a 4 % increase compared to the cash balance recorded at the end of 2018, which amounted to $ 407 million.
The results showed the company's net profit increased to $ 157 million in 2019 compared to a net loss of $ 186 million in 2018.
Net profit from operating operations during 2019, before calculating non-recurring provisions, contractual benefits and deferred revenue, increased by 80 % to $ 115 million compared to $ 64 million in 2018.
Dana Gas is a private sector company working in the field of natural gas in the Middle East. It was established in December 2005 and is listed on the Abu Dhabi Stock Exchange.
Dana Gas has assets in the fields of gas exploration and production in the UAE, Egypt and Kurdistan Region of Iraq, with a production rate of 66.2 thousand barrels of equivalent oil per day.