BG Group's full year results could come in ahead of expectations, the energy giant said this morning.
The group, which is currently edging towards a £36bn takeover by Royal Dutch Shell, said improved performance in some areas, and a post-tax gain of "at least" $600m from disposals, re-measurements and impairments, meant the business was looking strong in the face of falling commodities prices.
But it has taken a $500m hit from falling oil prices.
Chief executive Helge Lund said: "Our excellent operational performance in 2015 is expected to deliver results in line with, or ahead of, our guidance for the year.
"Ramp up of both LNG trains at our QCLNG project in Australia and the start-up of our sixth FPSO in Brazil drove a strong E&P operational performance while our LNG Shipping & Marketing business delivered 282 cargoes, an increase of 58 per cent on 2014, in difficult market conditions."
Investors were not convinced, with BG Group's share price falling 2.1 per cent in early trading.
The full results, which are due out on 5 February, are expected to show average E&P production volumes of 704 thousands barrels of oil a day (kboed) - ahead of the guided levels of 680-700 kboed.
It will also report upstream EBITDA of at least $1.4bn for the year to 31 December, with LGN Shipping & Marketing EBITDA of at least $1.4bn, in line with guidance.
Business performance earnings should come in at around $1.7bn, while total results earnings should be "at least" $2.3bn, including the $600m post-tax gain.