Éts Maurel et Prom

Maurel et Prom reported a 27% revenue increase for the first half and a net income of USD 191 million (+78% year-on-year). EBITDA was USD 227 million, operating income USD 161 million and free cash flow USD 77 million. The result was supported by a 46% higher average oil price (USD 103.8/barrel), the resumption of oil sales from Venezuela, new drilling in Tanzania and the integration of assets such as Sinu-9 in Colombia. The company announced the acquisition of Gran Tierra assets in Colombia and Ecuador for USD 1.33 billion, aims to complete financing by end-2026 and targets a pro rata production of 40,000 bbl/day by 2029/30. » More on de.investing.com

Maurel & Prom has signed a binding agreement to acquire Gran Tierra’s assets in Colombia and Ecuador for $1.33 billion. The portfolio produced about 29,026 bopd in H1 2026 and includes 144 million barrels of certified 2P reserves (as of 31 December 2025). A significant portion of the consideration will be paid by assuming Gran Tierra debt securities, including senior notes ($582m) and a prepayment facility with Trafigura ($350m); payments also include upfront payments and a subordinated promissory note. Completion is subject to approval by Gran Tierra shareholders, creditor consents and regulatory approvals and is targeted for 31 December 2026. » More on de.investing.com