Norway's Panoro Energy reports H1 group production at record levels

Panoro Energy ASA

20/08/2026 05:41

Overview
Norway-based oil and gas producer's H1 2026 revenue was $60.3 mln
Company to acquire 9.09% interest in Block CI-27 offshore Côte d'Ivoire, boosting production
Quarterly cash distribution of NOK 50 mln declared as return of paid-in capital

Outlook
Panoro expects group production to exceed 20,000 boepd after Côte d'Ivoire acquisition completion
Company to update 2026 guidance post-completion of Côte d'Ivoire acquisition

Result Drivers
RECORD PRODUCTION - Co said group production reached record levels, driven by strong performance at Block G, high uptime at Dussafu, and stable output in Tunisia
WELL INTERVENTIONS - Ongoing well intervention activities at Block G and restoration work at Ceiba field supported higher output
ASSET ACQUISITIONS - Recent acquisitions, including increased stake in Block G and planned purchase of Block CI-27 interest, are expected to increase production and reserves

Company press release: ID:nObiSDqc5a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$60.3 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 Panoro Energy ASA is NOK41.00, about 38.7% above its August 19 closing price of NOK29.55
The stock recently traded at 4 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.)