Afentra H1 revenue hits $91 mln
Afentra H1 revenue hits $91 mln
Overview
UK oil and gas producer's H1 2026 revenue totaled $91.0 mln, net loss was $1.5 mln
Adjusted EBITDAX for H1 2026 reached $41.9 mln
Company strengthened financial position with $125 mln debt facility and $40 mln equity raise
Outlook
Company expects Etu acquisition to complete in Q3 2026, increasing interests in Blocks 3/05 and 3/05A
Afentra anticipates two additional crude liftings of ~450,000 bbls each in remainder of 2026
Company has hedged 49% of 2026 remaining forecast sales and 24% for 2027
Result Drivers
DRILLING CAMPAIGN - First drilling campaign in Block 3/05 in over a decade contributed to operational progress, per CEO Paul McDade
PACASSA SW DISCOVERY - Successful oil discovery at Pacassa SW supported portfolio growth, per CEO Paul McDade
PRODUCTION DOWNTIME - Output temporarily impacted by gas compression upgrades and drilling unit positioning, operations restored post-period
Company press release: ID:nRSO7116Ua
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Loss |
| $1.50 mln |
|
H1 Adjusted EBITDA |
| $41.90 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Afentra PLC is GBp125.00, about 52.6% above its September 14 closing price of GBp81.90
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)