Maurel & Prom Registers Strong First-Half 2026 Financial Results

Maurel & Prom (M&P) reported robust financial performance for the first half of 2026, driven by effective operational execution and favorable oil prices. Group working interest production reached 37,890 boepd, with revenue climbing to $366 million, a 27% increase from 2025. The average oil sale price saw a significant rise to $103.8/bbl, boosting EBITDA by 63% to $227 million and operating income by 64% to $161 million. Consolidated net income jumped 78% to $191 million.

The company's strategic asset development continued, including resumed sales from Venezuela and acquisitions in Colombia. M&P generated $77 million in free cash flow, supporting shareholder dividends and growth. A $465 million refinancing agreement was reached, expected to boost liquidity by $250 million by Q4.

An acquisition deal was signed for Gran Tierra's assets in Colombia and Ecuador, valued at $1.33 billion. This is expected to increase production to 40,000 bopd by 2029-2030. The deal will close by the end of 2026.