Maurel & Prom's Nine-Month Performance Shows Growth

Paris-based Maurel & Prom reported a 4% increase in production for the first nine months of 2026, reaching 39,126 boepd. This growth was supported by notable advances in Q3, showing an 8% rise compared to Q2. Key production figures include 13,710 bopd in Gabon and 67.0 mmcfd in Tanzania. The company also recorded significant increases in valued production ($521 million, +32%) and consolidated sales ($574 million, +17%).

Oil prices averaged $98.8/bbl, a 40% increase from 2025. Noteworthy developments included a gas discovery in Tanzania and continued oil exports from Venezuela. The acquisition of Gran Tierra's assets proceeded with approvals, aiming for completion by year-end.

Financially, Maurel & Prom strengthened their structure by refinancing $465 million, enhancing liquidity to $505 million. This move extended debt maturity to 2031, positioning the company for future growth plans in Colombia and Ecuador.