France's Maurel et Prom Q1 sales jump 85% quarter-on-quarter on higher oil prices

Etablissements Maurel et Prom SA

16/04/2026 06:39

Overview

France oil and gas producer's Q1 sales rose 85% quarter-on-quarter to $163 mln

Company's Gabon oil production grew 14% quarter-on-quarter, supporting higher sales

Company ended Q1 with positive net cash position of $235 mln

Outlook

Mouletsi-2 gas well in Gabon expected to start up by end-2026

Company expects increased Venezuela oil production in Q2 from resumed drilling and workover

Strong liquidity position supports future external growth opportunities

Result Drivers

HIGHER OIL PRICES - Average oil sale price rose 41% quarter-on-quarter to $90.8/b, sharply boosting sales

GABON PRODUCTION REBOUND - Gabon oil output increased 14% quarter-on-quarter, supporting higher group sales

LIFTING IMBALANCES - Positive impact of $16 mln from lifting imbalances and inventory revaluation

Company press release: ID:nBw47zlyCa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$163 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 11.8% above its April 15 closing price of €9.40

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 6 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.)