Maurel & Prom Reports a Strong Q1 2026 Performance

In Q1 2026, Maurel & Prom recorded a total working interest production of 37,444 boepd, a 7% rise from Q4 2025. In Gabon, oil production grew 14% to 14,456 bopd. Though Angola saw a slight drop to 4,034 bopd, Tanzania and Colombia maintained stable gas outputs. In contrast, Venezuela's oil production declined by 6% to 7,965 bopd.

The company reported $163 million in sales, marking an 85% increase from Q4 2025. This growth was driven by a higher average oil sale price of $90.8/b. Despite the termination of an acquisition deal in Angola due to pre-emption rights, Maurel & Prom maintains a robust financial position with $235 million in net cash, supporting its strategic growth plans.