Maurel & Prom 9-month sales fall as crude oil prices remain under pressure (updated)

Etablissements Maurel et Prom SA

16/10/2025 07:20

Adds detail on sales, net debt, oil prices throughout

Oct 16 (Reuters) - French oil and gas group Maurel & Prom MAUP.PA reported a 13% drop in its nine-month sales on Thursday, impacted by declining  crude oil prices.

Consolidated sales for January-September fell to $489 million from $559 million as crude oil prices dropped by 15% in the same period to $70.6 per barrel.

Crude oil prices declined in the second quarter after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) began in April to roll back their self-imposed production cuts totalling 2.17 million barrels per day.

The company said its net debt was $73 million at the end of September, compared with a positive net cash position of $91 million at the end of June.

The change reflected a $77 million dividend paid at end‑August, a $23 million deposit toward acquiring an interest in a Columbian gas permit Sinu‑9, and $69 million cash used by working capital changes over the quarter.

M&P agreed to raise its ownership stake in Sinu-9 gas field by another 21% in July, which would bring its stake to 61%. The deal is now expected to complete by year-end compared to original September deadline due to additional administrative requirements, M&P said.

 (Reporting by Olivier Cherfan and Hugo Lhomedet in Gdansk; Editing by Anna Pruchnicka)

 ((olivier.cherfan@thomsonreuters.com;))