- M&P working interest production in 2022: 25,584 boepd
- M&P working interest production of 14,646 bopd on the Ezanga permit in Gabon, down 6% from 2021 following the terminal issues encountered in the second quarter
- M&P working interest production of 3,732 bopd in Angola, up 9% from 2021
- M&P working interest gas production of 43.2 mmcfd in Tanzania, up 10% from 2021
- Valued production of $700 million in 2022, an increase of 43% from 2021
- Average oil price of $97.8/bbl in 2022, versus $72.5/bbl in 2021
- Negative impact of $35 million for restatement of lifting imbalances and inventory revaluation, with a net underlift position of 718,000 barrels at end of December 2022
- Sales of $676 million in 2022, up 35% from 2021
- Growth transactions are not slowing down the continued deleveraging
- Cash position of $138 million at 31 December 2022, excluding the $76 million placed in an escrow account as part of the announced offer for Wentworth Resources
- Gross debt of $337 million, with $201 million in gross debt repaid during the year
- Net debt of $199 million at year-end 2022, down by $144 million vs. 2021 year-end (down by $220 million excluding the Wentworth Resources transaction)
- Zorro-1 exploration well abandoned on the COR-15 permit in Colombia
- Zorro-1 production test unsuccessful despite oil traces during drilling; abandonment of well completed mid-January 2023
- Drilling of Oveja-1 began on 23 January 2023
- 2P reserves for M&P’s working interest as at 31 December 2022: 173 mmboe
- Reserves up by 7% after restatement of 2022 production
Download the press release:
Activity for the year 2022
