united oil  gas plc on tuesday reported a slightly higher net profit for the first half of the year despite lower production as it benefited from higher commodity prices and narrowed its fullyear guidance heres what the oilandgas company had to say first half 1h 2022 group working interest production averaged 1552 barrels of oil equivalent a day net 1290 bopd oil and 262 boepd gas 1h 2021 2730 boepd group working interest production to 31 august averaged 1478 boepd net the average realized oil price was 10550bbl 1h 2021631bbl and the average realized gas price was 261mmbtu whilst the current higher commodity price environment has had a subsequent inflationary impact on operating costs the increase in the per barrel cost is being primarily driven by the predominantly fixed nature of the cost base and the reduction in average daily production in the period the full year 2022 average group working interest production guidance range has narrowed to 14501500 boepd vs 15001650 boepd previously guided this is primarily due to rescheduling of the 2022 drilling program in order to incorporate the results of seismic reprocessing prior to drilling the high impact ash4 development well which has now commenced drilling we have good cashflows from the egypt production which is leveraged to the current high commodity prices shares at 0931 gmt were up 010 pence or 7 at 153 pence