7.900 €
(-2.95 %)
M&P working interest production for the first nine months of 2026: 39,126 boepd, up 4% compared with 2025, with an acceleration in Q3 (+8% versus Q2)
- M&P working interest production of 13,710 bopd in Gabon
- M&P working interest production of 3,973 bopd in Angola
- M&P working interest gas production of 67.0 mmcfd in Tanzania
- M&P working interest gas production of 10.3 mmcfd in Colombia
- M&P Iberoamerica working interest oil production of 8,558 bopd in Venezuela
Strong increase in valued production to $521 million (+32%) and consolidated sales to $574 million (+17%)
- Average oil sale price of $98.8/bbl, up 40% compared with 2025
- Contributions of $8 million from service activities and $57 million from trading of third-party oil, partly offset by a negative $11 million impact from lifting imbalances and inventory revaluation
Promising gas discovery at the Kasa-1X well in Tanzania
- Confirmation of a gas reservoir with encouraging characteristics
- Current production from Mnazi Bay of approximately 130 mmcfd (78 mmcfd working interest), supported by gas demand and the bringing on stream of the two new wells MB-5 and MS-2
Continued operational developments in Angola and exports from Venezuela
- Significant discovery at the Pacassa South West well in Angola
- Continued crude oil sales in Venezuela, with three liftings during Q3
Significant progress towards completion of the acquisition of Gran Tierra’s assets in Colombia and Ecuador
- Required consent obtained on 22 September from holders of the 2031 notes
- Transaction approved on 9 October by Gran Tierra shareholders
- Regulatory approval processes ongoing, with completion of the transaction still expected by year-end
Strengthened financial structure following a $465 million refinancing, bringing available bank liquidity to $505 million
- Positive net cash position of $40 million at 30 September 2026, after payment of $89 million in dividends and the $50 million deposit relating to the Gran Tierra acquisition during Q3
- Refinancing completed in early October, extending bank debt maturity to October 2031, with a one-year grace period and attractive financing terms
- Available bank liquidity of $505 million, excluding the undrawn $100 million in shareholder loan
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