Financial Performance H1 2026
Maurel et Prom reported a 27% year‑over‑year increase in revenue for the first half of 2026, primarily due to a 46% rise in the average oil sale price to $103.8 per barrel. Net income for the period climbed 78% to $191 million. EBITDA reached $227 million and operating income totaled $161 million. Free cash flow for the first half stood at $77 million.
Operational Highlights
The revenue uplift was supported by the resumption of crude oil sales from Venezuela and the start‑up of new wells in Tanzania. Ongoing drilling campaigns and the integration of new assets, including the Sinu‑9 field in Colombia, also contributed to performance.
Acquisition and Growth Plans
Maurel et Prom announced an agreement to acquire Gran Tierra’s Colombia and Ecuador assets for $1.33 billion, with the transaction expected to close around 31 December 2026. The company targets a working‑interest production level of 40,000 barrels of oil per day by the 2029‑2030 period. Additionally, it anticipates generating approximately $250 million of extra liquidity upon refinancing in the fourth quarter of 2026.