Tillkännagivande • May 22
Panoro Energy ASA Declares Cash Distribution, Payable on or About 10 June, 2026 Panoro Energy ASA declared a cash distribution of NOK 0.374 per share (representing a cash distribution to shareholders of NOK 50 million). Distribution amount: NOK 0.374 per share. Declared currency: NOK, Last day of trading including right: 29 May 2026, Ex-distribution date: 1 June 2026, Record date: 2 June 2026, Payment date: On or about 10 June 2026, Date of approval: 20 May 2026, Distributions will be paid in NOK. Tillkännagivande • Apr 29
Panoro Energy Asa Announces Changes Board and Committee Changes Panoro Energy ASA announced Mr. Julien Balkany will head Panoro's Executive Committee to be comprised of Mr. Eric d'Argentré (Chief Operating Officer and President), Mr. Qazi Qadeer (Chief Financial Officer), Mr. Andrew Dymond (Head of Corporate Development) and Mr. Kim Hansen (Head of Engineering). In addition, Deputy Chairman Mr. Torstein Sanness will transition to a new role becoming Emeritus Chairman, in this capacity he will continue as an observer to the Board, and also oversee a newly formed Technical Committee. Mr. Sanness will also join the Nomination Committee, replacing Grace Reksten Skaugen who will step down at the AGM. Tillkännagivande • Dec 06
Panoro Energy ASA, Annual General Meeting, May 21, 2026 Panoro Energy ASA, Annual General Meeting, May 21, 2026. Tillkännagivande • Nov 21
Panoro Energy ASA Declares Cash Distribution, Payable on or About 10 December 2025 The board of directors of Panoro Energy ASA declared cash distribution of NOK 0.705 per share (representing a cash distribution to shareholders of NOK 80 million). Ex-distribution date: 28 November 2025. Record date: 1 December 2025, Payment date: On or about 10 December 2025, Date of approval: 19 November 2025. Tillkännagivande • Sep 10
Panoro Energy ASA Appoints Eric D'argentré as Chief Operating Officer and President Panoro Energy ASA (Company) announced the appointment of Eric d'Argentré as its new Chief Operating Officer and President. Eric has extensive expertise in operations, drilling, field development, HSE and project delivery having held a number of increasingly important senior management roles with Perenco, one of the leading private oil and gas producers, over the past three decades. He brings considerable operational experience and first-hand know-how in all aspects of the development, production and management of oil and gas upstream assets in challenging jurisdictions. He has spent almost thirty years with Perenco in senior management positions including but not limited to Group Operation Manager, Group Director for Quality and HSE, Managing Director for Perenco operations in Cameroon (80,000 boepd), UK (100,000 boepd), Colombia (24,000 bopd), Ecuador (30,000 bopd) and Turkey (13,000 bopd) among others. Eric also worked several years as Project Manager and Production Engineer offshore and onshore Gabon. Eric graduated with a B.Sc in Mechanical Engineering and then obtained a M.Sc in Offshore /Petroleum Engineering from Robert Gordon University in Aberdeen. He is a French citizen and resides in London, UK. Tillkännagivande • Aug 21
Panoro Energy ASA Declares Cash Distribution, Payable on or About September 8, 2025 The board of directors of Panoro Energy ASA declared cash distribution of NOK 0.705 per share (representing a cash distribution to shareholders of NOK 80 million). Ex-distribution date: 28 August 2025. Record date: 29 August 2025, Payment date: On or about 8 September 2025, Date of approval: 20 August 2025, Distributions will be paid in NOK, The cash distribution will be paid as a return of paid in capital. Tillkännagivande • Aug 08
Panoro Energy ASA Updates Production Guidance for the Full Year 2025 Panoro Energy ASA updated production guidance for the full year 2025. For the full-year 2025 working interest production guidance range 11,000 - 12,000 bopd (from 11,000 - 13,000 bopd previously) after taking into account deferred production volumes in Equatorial Guinea. Full-year 2025 liftings expected to be ~3.7 million barrels (unchanged). Tillkännagivande • May 21
Panoro Energy Asa Declares Cash Distribution, Payable on or About 10 June 2025 The board of directors of Panoro Energy ASA declared a cash distribution of NOK 0.684 per share (representing a cash distribution to shareholders of NOK 80 million). Last day of trading including right: 30 May 2025. Ex-distribution date: 2 June 2025. Record date: 3 June 2025. Payment date: On or about 10 June 2025. Date of approval: 20 May 2025. Distributions will be paid in NOK. The cash distribution will be paid as a return of paid in capital. Tillkännagivande • May 07
Panoro Energy ASA Reaffirms Production Guidance for the Full Year 2025 Panoro Energy ASA reaffirmed production guidance for the full year 2025. Full-year 2025 working interest production guidance unchanged at 11,000 bopd to 13,000 bopd. Full-year 2025 liftings expected to be ~3.7 million barrels (unchanged). Tillkännagivande • Apr 22
Panoro Energy Announces Bourdon Discovery Appraisal Confirms Future Development Potential Further to the announcement of 7 March 2025 confirming a significant oil discovery had been made at the Bourdon prospect, located on the Dussafu Marin Permit ("Dussafu") offshore Gabon, Panoro Energy ASA ("Panoro" or the "Company") announced that an appraisal side-track has successfully encountered oil in the Gamba formation. Based on preliminary analysis of data the operator estimates the Bourdon discovery to hold approximately 56 million barrels of oil in place of which approximately 25 million barrels are considered recoverable. The DBM-1 ST2 well was drilled with the Borr Norve jack up drilling rig to a total depth of 4,731 metres and encountered approximately 11 metres of net oil pay in a gross column of approximately 35 metres in the Gamba reservoir formation. Bourdon is located approximately 15 kilometres west of the FPSO BW Adolo and 7.5 kilometres south east of the MaBoMo production platform. Panoro holds a 17.5% working interest in the Dussafu Marin Permit. BW Energy is operator and holds a 73.5% working interest. Gabon Oil Company holds a 9% working interest. Tillkännagivande • Mar 07
Panoro Energy ASA Announces Significant Oil Discovery Offshore Gabon Panoro Energy ASA announced a significant new oil discovery has been made at the Bourdon prospect, located on the Dussafu Marin Permit ("Dussafu") offshore Gabon in which Panoro holds a 17.5% participating interest. The well was drilled to a total depth of 4,135 metres with the Borr Norve jack-up rig. Evaluation of logging and pressure data confirms that approximately 34 metres of net oil pay in an overall column of 45 metres has been encountered in the prolific Gamba reservoir formation. This is the largest hydrocarbon column discovered to date at Dussafu. The discovery is located approximately 15 kilometres west of the BW Adolo FPSO and 7.5 kilometres southeast of the MaBoMo production facility. Tillkännagivande • Feb 25
Panoro Energy Asa Declares Cash Distribution, Payable on or About 12 March 2025 The board of directors of Panoro Energy ASA declared a cash distribution of NOK 0.684 per share (representing a cash distribution to shareholders of NOK 80 million). Last day of trading including right: 4 March 2025. Ex-distribution date: 5 March 2025. Record date: 6 March 2025. Payment date: On or about 12 March 2025. Date of approval: 24 February 2025. Distributions will be paid in NOK. The cash distribution will be paid as a return of paid in capital.
Declared currency: NOK. Tillkännagivande • Dec 03
Panoro Energy ASA, Annual General Meeting, May 21, 2025 Panoro Energy ASA, Annual General Meeting, May 21, 2025. Tillkännagivande • Nov 29
Panoro Energy ASA Confirms Drilling of the S-6 Exploration Well at Block S Offshore Equatorial Guinea Panoro Energy ASA can confirm that drilling of the S-6 exploration well at Block S offshore Equatorial Guinea has concluded. The well was drilled to a total vertical depth of approximately 4,030 metres and encountered oil zones in the Upper Albian which, following evaluation of all data gathered, is deemed sub-commercial by the partners. Panoro holds a 12% participating interest in Block S. Other partners are Kosmos Energy (operator), Trident Energy and GEPetrol. At Block G, first oil from the Okume infill well was achieved mid-November with production ramp-up ongoing. The Ceiba infill well was brought online by the Block G operator, Trident Energy, mid-October 2021 and is performing ahead of expectations Panoro holds a 14.25% participating interest in Block G. Other partners are Kosmos Energy and GEPetrol. This marks the end of the 2024 drilling campaign in Equatorial Guinea. Tillkännagivande • Oct 22
Panoro Energy ASA Provides Update on Operations at the Dussafu Marin Permit Offshore Gabon Panoro Energy ASA provided an update on operations at the Dussafu Marin Permit offshore Gabon in which Panoro holds a 17.5% participating interest. Gross oil production at Dussafu during third quarter averaged approximately 27,465 bopd, the quarterly rate achieved since start-up of production on the block in 2018. Following discovery in May of the Hibiscus Northern Flank (announced by the Company on 21 May 2024), the DHIBM-7H production well has successfully been drilled into the discovery and put onstream with a conventional electrical submersible pump (\"ESP\") system in early October at a rate consistent with previous wells on the block and in line with expectations. Completion of the DHIBM-7H well concludes the current production drilling campaign at Dussafu which has delivered eight new production wells across the Hibiscus /Ruche area and yielded two new discoveries, adding an estimated 23.1 million barrels of gross 2P reserves. The Borr Norve jack-up drilling rig will next undertake a workover /ESP replacement programme on certain existing wells (for which delivery of all necessary conventional ESP systems and spares has been secured). Upon conclusion of the workover programme all wells will have conventional ESP systems installed, resulting in gross production reaching the targeted 40,000 bopd level by year end. The Bourdon prospect test well (DBM-1) will be the last rig operation under the current contract in early 2025. The Bourdon prospect has an estimated mid-case potential of 83 million barrels in place and 29 million barrels recoverable in the Gamba and Dentale formations. Tillkännagivande • May 26
Panoro Energy ASA Provides Production Guidance for the Second Quarter of 2024 Panoro Energy ASA provided production guidance for the second quarter of 2024. For the quarter, the group production is expected to be approximately 9,000 bopd and includes the effect of a planned three week shut down of production offshore Gabon in May to undertake routine annual maintenance work. Tillkännagivande • May 23
Panoro Energy ASA Declares Cash Distribution, Payable on or About 13 June 2024 The board of directors of Panoro Energy ASA declared a cash distribution of NOK 0.427 per share (representing a cash distribution to shareholders of NOK 50 million). Ex-distribution date is 4 June 2024, record date is 5 June 2024 and payment date is On or about 13 June 2024. Tillkännagivande • Feb 22
Panoro Energy ASA Declares Cash Distribution, Payable on or About 21 March 2024 The board of directors of Panoro Energy ASA declared a cash distribution of NOK 0.427 per share (representing a cash distribution to shareholders of NOK 50 million). Ex-distribution date: 8 March 2024, Record date: 11 March 2024. Payment date: On or about 21 March 2024. Date of approval: 21 February 2024. Tillkännagivande • Jan 25
Panoro Energy ASA Provides Production Guidance for the First Quarter and Full Year 2024 Panoro Energy ASA provided production guidance for the first Quarter and full year 2024. For the quarter, the company expects working interest production is expected to average 9,500 bopd to 10,000 bopd.For the full year, the company expects working interest production to average between 11,000 bopd to 14,000 bopd, the mid-point of the range representing a 40% uplift on 2023 average group production. Tillkännagivande • Jan 22
Panoro Energy ASA Provides Update on Operations Offshore Equatorial Guinea Panoro Energy ASA provided the following update on operations offshore Equatorial Guinea. At Block G the planned three-well infill drilling campaign has commenced utilising the Island Innovator semi-submersible drilling rig. The first new infill well is expected onstream around the end of First Quarter, with all three wells expected onstream by mid-year. Panoro holds a 14.25% interest in Block G. Partners in Block G are Trident Energy (operator), Kosmos Energy and GEPetrol. Following completion of the Block G infill drilling campaign, the Island Innovator rig will relocate to Block S where it will drill the Kosmos Energy operated Akeng Deep infrastructure-led exploration ("ILX") well. The Akeng Deep ILX well is intended to test a play in the Albian, targeting an estimated gross mean resource of approximately 180 million barrels of oil in close proximity to existing infrastructure at Block G. Panoro holds a 12% interest in Block S. Other partners in Block S are GEPetrol and Trident Energy who are delivering the drilling program on behalf of the joint venture partners. Tillkännagivande • Nov 17
Panoro Energy ASA Provides an Update on Production and the Planned Drilling Schedule At the Dussafu Marin Permit Offshore Gabon Panoro Energy ASA provided an update on production and the planned drilling schedule at the Dussafu Marin Permit offshore Gabon. Highlights: Gross average Third Quarter production of 23,257 bopd represents a new quarterly high for Dussafu as new wells were brought onstream. During Fourth Quarter to date (October 1 until November 15) gross production is averaging approximately 30,000 bopd, with production ranges in the period of up to 39,000 bopd as production was restored on ESP at the DHIBM-3 and DHIBM-4 wells. Gross average production for fourth quarter is expected to be approximately 25,000 bopd to 30,000 bopd as a period of further repair and maintenance will be undertaken over the coming weeks on the electrical systems and ESPs which the Operator believes are required for longer term optimisation. The partners plan to fast-track the recent Hibiscus South oil discovery into production, meaning the current drilling campaign offshore Gabon will now result in a total of seven new production wells compared to previously communicated plans for six new production wells. Gross production is expected to increase to 40,000 bopd when all wells in the current campaign are onstream. The partners have agreed that the remaining rig option will be utilised to drill the Bourdon Prospect ("Prospect B") which has an estimated mid-case potential of 29 million barrels recoverable oil in the Gamba and Dentale formations. To date the partners have successfully drilled and completed four production wells on the Hibiscus field, each of which was put onstream at rates of between 6,000 bopd and 6,500 bopd. The results of these wells have confirmed excellent reservoir quality in the Gamba sandstones with potential positive implications for recoverable oil volumes. In light of this, the partners have elected to accelerate development of the Hibiscus field in the current campaign and will next spud the DHIBM-7H production well which is expected to be completed and put onstream in January. Fast-track Development of Hibiscus South Discovery: The partners plan to return to the Hibiscus South well (DHBSM-1) in early 2024 and re-use the upper section of the well to drill a production section into the newly discovered oil bearing zones in the Gamba reservoir. Hibiscus South is located around 5 kilometres south-west of the BW Mabomo production facility with preliminary estimates for recoverable volumes at six to seven million barrels on a gross basis. Ruche Field: Operations were temporarily paused on the DRM-3H production well on the Ruche field in mid-October where, having been drilled to a depth of 5,351 metres and encountering oil in the Gamba reservoir, it become evident that an alternative final casing design is required. The Ruche Phase I development will therefore now comprise one production well compared to the previously planned two wells, the additional well on the Hibiscus field now being prioritised for the second Ruche well rig slot. Bourdon (Prospect B) Well: The Bourdon Prospect is located in a water depth of 115 metres approximately 7 kilometres to the southeast of the BW Mabomoproduction facility and 14 kilometres west of the BW Adolo FPSO. The Prospect has an estimated mid-case Potential of 83 million barrels in place and 29 million barrels recoverable in the Gamba and Dentales formulations. The well is to be drilled in the current campaign, utilising the 8th and final rig slot, the timing of which will be dependent on sequencing of the remaining production wells and arrival of additional casing materials. Tillkännagivande • Nov 07
Panoro Energy ASA Announces Significant Oil Discovery Offshore Gabon Panoro Energy ASA announced that the Hibiscus South well (DHBSM-1) has made a commercial oil discovery on the Dussafu Marin Permit offshore Gabon (Panoro Energy 17.5% working interest). Hibiscus South is located approximately five kilometres south-west of the BW Mabomo production platform from where the well was drilled to a total depth of 6,002 metres by the Borr Norve jack-up drilling rig. Evaluation of well log data and sample analysis confirms that the well intersected approximately 20 metres of oil pay in an overall hydrocarbon column of approximately 26.5 metres in the regionally prolific Gamba formation which is productive at the Tortue and Hibiscus fields elsewhere on the block. The partners plan to return to the well to complete it as a production well in early 2024. Preliminary estimates of recoverable volumes at Hibiscus South are six to seven million barrels of oil and in line with pre-drill expectations of approximately 16 million barrels of oil in place /7 million barrels recoverable. Tillkännagivande • Oct 17
Panoro Energy ASA Announces Dussafu Operations Update Panoro Energy ASA announced that at the Hibiscus field production has been re-instated at the DHIBM-3H well on electrical submersible pump ("ESP"). At the DHIBM-4H well, which has recently been producing on natural flow as previously communicated, the ESP has also been successfully re-started. Both wells had experienced surface electrical issues preventing operation of the downhole ESPs and are now being monitored to establish the optimal stabilised flow rates under ESP lift and ensure reliability of remedial work undertaken. Current gross production on the Dussafu Marin Permit is at rates of up to 35,000 bopd from the four wells already drilled at the Hibiscus field in the current campaign and six wells at the Tortue field. At the Ruche field drilling and completion operations have been temporarily paused on the DRM-3H production well where, having been drilled to a depth of 5,351 metres and encountering oil in the regionally prolific Gamba reservoir, it has become evident that an alternative final casing design is required. To optimise utilisation of contracted rig capacity the partners have commenced drilling of the Hibiscus South exploration prospect (DHBSM-1) whilst additional casing material is being delivered. Hibiscus South is located approximately 5 km south-west of the BW Mabomo production platform and has an estimated potential mid-case volume of 16 million barrels of oil in place (estimated 7 million barrels recoverable) in the Gamba reservoir. If successful, the well can be plugged back and the top-hole used for another production well. The well is expected to take around 30 days to drill. The partners plan to return to the DRM-3H well to undertake remaining drilling and completion operations later in the campaign. Production from the block is expected to increase to approximately 40,000 bopd on a gross basis when six production wells in the current drilling campaign are completed and onstream. Panoro holds a 17.5% working interest in the Dussafu Marin Permit. Tillkännagivande • Sep 20
Panoro Energy ASA Provides Production Guidance for Fourth Quarter and Full Year 2023 Panoro Energy ASA provided production guidance for fourth quarter and full year 2023. For the period, Company expects to lift approximately 965,000 barrels during Fourth Quarter in Gabon and Tunisia, which includes a lifting of 380,000 barrels in Gabon previously assumed to occur in the last week of September which is now scheduled for early October.Full year 2023 crude oil liftings are expected to total approximately 3 million barrels, unchanged fromguidance. Tillkännagivande • Sep 14
Panoro Energy ASA Announces Dussafu Drilling Update Panoro Energy ASA announced that the DHIBM-6H production well at the Hibiscus Ruche Phase I development offshore Gabon has successfully been drilled, completed and handed over to production operations without incident. The well encountered good quality oil saturated reservoir sands in the regionally prolific Gamba reservoir and has been put onstream at a rate of approximately 6,500 bopd, in line with expectations. The well was drilled with the Borr Norve jack-up drilling rig in 116 metres water depth and is the fourth in a six-well production drilling campaign at the Hibiscus and Ruche fields which is expected to bring total oil production on the Dussafu Marin Permit up to approximately 40,000 bopd on a gross basis when all wells are completed and onstream. The Borr Norve rig has now commenced drilling the DRM-3H production well on the Ruche field. Current gross production from the Dussafu MarinPermit is approximately 26,500 bopd, which Panoro estimates is up to 8,000 bopd to 10,000 bopd below current potential owing to issues with electrical supply to the ESP's (elect electrical submersible pumps) with the DHIBM-4H well currently flowing naturally at approximately 2,800 bopd and DHIBM-3H well temporarily not producing. Work to expedite return to production for these wells is ongoing. Tillkännagivande • Aug 24
Panoro Energy ASA Declares Cash Dividend, Payable on or about 20 September 2023 The board of directors of Panoro Energy ASA declared a cash dividend of NOK 0.342 per share (representing a cash payment to shareholders of NOK 40 million). Ex-dividend date: 12 September 2023. Record date: 13 September 2023. Payment date: On or about 20 September 2023. Date of approval: 23 August 2023. Tillkännagivande • Jul 22
Panoro Energy ASA Announces Dussafu Drilling Update Panoro Energy ASA announced that the DHIBM-5H production well at the Hibiscus Ruche Phase I development offshore Gabon has successfully been drilled, completed and handed over to production operations without incident. The well encountered good quality oil saturated reservoir sands in the regionally prolific Gamba formation and has been put onstream at a rate of approximately 6,000 bopd, in line with expectations. The well was drilled with the Borr Norve jack-up drilling rig in 116 metres water depth and is the third in a six-well production drilling campaign at the Hibiscus and Ruche fields which is expected to bring total oil production on the Dussafu Marin Permit up to approximately 40,000 bopd on a gross basis when all wells are completed and onstream. The Borr Norve rig has now commenced drilling operations on the fourth planned production well on the Hibiscus field, DHIBM-6H. Panoro holds a 17.5% working interest in the Dussafu MarinPermit. Tillkännagivande • Jun 15
Panoro Energy ASA Announces Dussafu Drilling Update Panoro Energy ASA announced that the DHIBM-4H production well at the Hibiscus Ruche Phase I development offshore Gabon has successfully been drilled, completed and handed over to production operations without incident. The well encountered good quality oil saturated reservoir sands in the regionally prolific Gamba formation and has been put onstream at a stabilised rate of approximately 6,000 bopd, in line with expectations. The well was drilled with the Borr Norve jack-up drilling rig in 116 metres water depth and is the second in a six-well production drilling campaign at the Hibiscus and Ruche fields which is expected to deliver on a gross basis approximately 30,000 barrels oil per day of new production when all wells are completed and onstream around the end of the year. The Borr Norve rig has now commenced drilling the third planned production well on the Hibiscus field, DHIBM-5H. The first new production well on the Hibiscus field, DHIBM-3H, was put onstream in early April. Production from the well continues at a stabilised gross rate of 6,000 bopd from Gamba reservoir sands. Panoro holds a 17.5% working interest in the Dussafu Marin Permit. Tillkännagivande • May 25
Panoro Energy ASA Approves the Election of Gunvor Ellingsen to the Board Panoro Energy ASA approved the election of Gunvor Ellingsen to the Board, at its AGM held on 24 May 2023. Tillkännagivande • May 24
Panoro Energy ASA Declares Cash Dividend, Payable on or about 12 June 2023 The board of directors of Panoro Energy ASA declared a cash dividend of NOK 0.2658 per share (representing a cash payment to shareholders of NOK 31 million). Ex-dividend date is 2 June 2023. Record date is 5 June 2023. Payment date is on or about 12 June 2023. Date of approval is 24 May 2023. Tillkännagivande • Jan 30
Panoro Energy ASA Provides Revenue Guidance for the Year 2022 and Production Guidance for the Fourth Quarter and Full Year 2022 and First Quarter and Full Year 2023 Panoro Energy ASA provided revenue guidance for the year 2022 and production guidance for the fourth quarter and full year 2022 and first quarter and full year 2023. 2022 full year reported revenue is expected to be approximately USD 188 million. Full year working interest production averaged approximately 7,500 bopd (approximate split Equatorial Guinea 59%, Gabon 25%, Tunisia 16%). Working interest production in fourth quarter of 2022 averaged approximately 7,000 bopd and reflects facilities maintenance and preparations for tie-in activities undertaken during the period.First quarter of 2023 working interest production is expected to be 7,000 bopd to 7,500 bopd taking into account a planned shutdown during February at Dussafu Marin for final hook up and commissioning work. Thereafter production is expected to increase progressively as the six new production wells at the Hibiscus Ruche Phase I development are drilled and brought onstream. Current group working interest production is approximately 7,300 bopdFull year working interest production expected to average 9,000 bopd to 11,000 bopd in 2023, with the range being dependent on timing of the start-up of each of the new production wells at Dussafu Marin. Tillkännagivande • Jan 09
Panoro Energy Asa Provides Development Drilling Commences on Schedule At Dussafu Marin Panoro Energy ASA provided the following update on operations at the Dussafu Marin Permit offshore Gabon (Panoro 17.5% working interest). Production drilling at the Hibiscus Ruche Phase I development commenced in early January with first oil expected during March 2023, in line with previously communicated guidance. At the Tortue field installation of the new gas lift compressor is underway onboard the FPSO BW Adolo and is also progressing according to previously communicated plans. The Borr Norve jack-up drilling rig arrived on location in late December and spud the first production well, DHIBM-3H, during the first week of January. The well, targeting the regionally prolific Gamba sandstone reservoir on the Hibiscus field, is the first in a multi-well drilling campaign at the Hibiscus and Ruche fields which is expected to deliver on a gross basis approximately 30,000 barrels oil per day of new production when all wells are completed and onstream. Installation of flexible pipelines and risers, completing the 20 kilometre connection between the BW MaBoMo production facility and the FPSO BW Adolo, has also been completed. At the producing Tortue field, the new gas lift compressor unit to support production from the six existing Tortue wells was received onboard the BW Adolo in December with installation work ongoing. Final commissioning and start-up of the compressor is expected in the first quarter as guided.