Maurel & Prom Reports First Half 2026 Results

Maurel & Prom (M&P) announced a 3% increase in working interest production, reaching 37,890 boepd in the first half of 2026. Gabon showed a 1% rise in oil production, while Angola experienced a 9% decline. Gas production in Tanzania grew by 4%, while Venezuelan oil output slightly dropped by 1%.

The company reported $366 million in sales, a 27% increase compared to the previous period. A significant rise in the oil sale price to $103.8/bbl contributed to this growth. Their valued production amounted to $334 million.

M&P is progressing with development programs, including drilling campaigns in Colombia and Angola. In Venezuela, the issuance of GL 50A facilitated the resumption of oil sales. The net cash position stood at $255 million, supported by strong liquidity of $498 million and an agreement for a $465 million refinancing facility effective in Q4 2026.