- Group working interest production for the first nine months of 2020: 26,458 boepd
- M&P working interest production on the Ezanga permit of 17,500 bopd, down 14% from the same period in 2019, due to production cuts related to OPEC quotas
- M&P working interest production of 4,002 bopd in Angola and 29.7 mmcfd in Tanzania
- Valued production (revenue from production activities, excluding lifting imbalances) for the first nine months of 2020: $241 million
- Down 37% compared to the same period in 2019, with the average sale price of oil down 44% to $37.8/bbl
- Consolidated sales of $212 million for the first nine months of 2020
- Solid financial position and ongoing paydown of debt
- Cash position of $160 million at 30 September 2020
- Debt repayments of $56 million since the start of the year
- Cash breakeven before debt servicing reduced down to $30/bbl thanks to cost reduction initiatives
- Working interest production of 28,916 boepd, a slight increase compared to Q4 2019
- Working interest production of 19,594 boepd on Ezanga, a 5% increase
- Valued production of $103 million, down 23% compared to Q4 2019
- Valued production significantly impacted by the drop in oil price
- Consolidated sales of $80 million after adjustment for the valuation of lifting rights at the end of March
- Well positioned to face current market conditions
- Active implementation of announced cost saving initiatives
- Cash balance of $249 million at the end of March, an increase compared to December 2019 ($231 million)
- Annual General Meeting of shareholders rescheduled to 30 June 2020
Since 2015, Maurel & Prom has participated in the CDP study which aims to assess the impact of large listed companies on climate change and and sets the standard for climate rating.
With an A- score for the second consecutive year, Maurel & Prom confirms its ranking among a list of companies perceived internationally for their transparency in terms of climate reporting.
This note rewards Maurel & Prom's efforts in terms of managing its environmental footprint and is part of the Group's commitments to sustainable development.