France's Maurel & Prom H1 revenue surges on higher oil prices

Etablissements Maurel et Prom SA

21/07/2026 06:40

    

    Overview
  
France oil and gas producer's H1 2026 revenue rose 27% yr/yr to $366 mln
Group working interest production up 3%, with higher output in Gabon and Tanzania offsetting Angola decline
Revenue growth driven by higher oil prices and increased production in select regions

    

    Outlook
  
Company expects Venezuela crude oil export pace to normalize in H2 2026
Maurel & Prom says commissioning of Angola's Quilemba Solar plant expected between September and October
Company expects Colombia's Sinu-9 export capacity to rise to 40–45 mmcfd in coming weeks

    

    Result Drivers
  
OIL PRICE INCREASE - Group said average oil sale price rose 53% to $103.8/bbl, boosting revenue
PRODUCTION GAINS - Higher output in Gabon and Tanzania offset declines in Angola, per company
NEW WELLS TANZANIA - MB-5 and MS-2 wells brought on stream, increasing gas production potential, per company

    
Company press release: ID:nBw94rGw2a

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
H1 Revenue
 
$366 mln
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "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 Etablissements Maurel et Prom SA is €10.50, about 32.5% above its July 20 closing price of €7.93
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 11 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.)