France's Maurel et Prom 2025 sales fall 29% on lower oil prices

Etablissements Maurel et Prom SA

12/03/2026 06:40

Overview

France oil and gas producer's 2025 sales fell 29% on lower oil prices and inventory impacts

Net income for 2025 jumped 74%, driven by gain on Seplat Energy stake sale

Company production rose 2%, with Venezuela output up 34%

Outlook

Maurel et Prom expects 2026 production (M&P share) at 42,700 boepd, up from 37,096 boepd in 2025

Company forecasts 2026 operating cash flow at $190 mln to $340 mln, depending on Brent price

Maurel et Prom plans $240 mln in development capex and $42 mln in exploration capex for 2026

Result Drivers

LOWER OIL PRICES & INVENTORY IMPACTS - Co said 2025 sales fell mainly due to lower average oil sale price and negative inventory effects

SEPLAT ENERGY STAKE SALE - Net income boosted by $287 mln gain from sale of 20.07% stake in Seplat Energy

VENEZUELA PRODUCTION GROWTH - 34% rise in Venezuela output contributed to overall production increase

Company press release: ID:nBw50q4vna

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Income
$428 mln
FY EBITDA
$249 mln
FY Free Cash Flow
$236 mln
FY Operating Income
$403 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 €7.55, about 23.9% below its March 11 closing price of €9.93

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 5 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)