ShaMaran Petroleum Q2 revenue falls on field shut-ins due to regional security concerns, the Iran war

ShaMaran Petroleum

05/08/2026 17:59

Overview
Canada-based oil producer's Q2 revenue fell 50% yr/yr due to prolonged field shut-ins
Average net daily oil production in Q2 dropped 97% yr/yr amid security-related suspensions
Company completed move to Bermuda and raised $1.1 mln via retail share offering

Outlook
Company says operational plans for 2026 depend on regional security environment
ShaMaran remains ready to restart production when security situation allows
Company says there is no certainty as to duration of current shut-in

Result Drivers
PRODUCTION SHUT-IN - Co said Q2 results were mainly driven by prolonged field shut-ins due to regional security concerns and the Iran war
HIGHER OIL PRICES - Realized oil prices in Q2 were considerably higher due to timing of cargo liftings and international pricing after pipeline exports restarted
LOWER OPERATING COSTS - Gross margin was supported by lower costs during the shut-in period

Company press release: ID:nObiJGr14a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 ADJ-EBITDA
 
$11.90 mln
 
Q2 Revenue
 
$17.8 mln
 

Reuters Recommended Reads
Aug 5 - Canada's Gran Tierra Q2 net income turns positive on higher oil prices
Aug 5 - Tullow Oil raises annual cash flow view on strong Ghana output, higher oil prices
Aug 5 - Glencore's energy trading profits soar on Iran war 

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.)