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BW Energy Ltd
OSE:BWE

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BW Energy Ltd
OSE:BWE
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Price: 45.75 NOK -7.2% Market Closed
Market Cap: 11.8B NOK

BW Energy Ltd
Investor Relations

BW Energy Ltd. engages in the exploration, acquisition, development and production of oil and natural gas fields. The firm is engaged in the acquisition, development and production of oil and natural gas fields, and holds majority interests in three hydrocarbon licenses in Gabon, Brazil, and Namibia. The Company’s assets include Brazil, Gabon and Namibia. The Maromba discovery is located approximately 100 kilometers (kms) offshore in the southern part of the Campos Basin in Brazil. In Gabon, the Company’s Dussafu license is situated within the Ruche Exclusive Exploitation Area (Ruche EEA), which covers approximately 850 square kilometers and includes six discovered oil fields and numerous leads and prospects. In Namibia, Kudu gas discovery asset is in the northern Orange sub-basin approximately 130 kms off the south-west coast of Namibia. The company is situated in Petroleum Production license 003 (PPL003) which has an area of 4,567 square kms and the field water depth is approximately 170 meters.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 28, 2025
AI Summary
Q3 2025

Production Guidance Maintained: BW Energy remains on track to meet its full-year 2025 production guidance of 11–12 million barrels (30,000–32,000 barrels per day), with year-to-date production at 8.5 million barrels.

Financial Highlights: Q3 EBITDA was $96 million, net profit was $20 million, and the company ended the quarter with a cash position of about $260 million.

Major Project Financing Secured: Completed $365 million Maromba FPSO financing, a $108 million short-term lease for the Maromba rig, and secured a $250 million corporate revolving credit facility, strengthening the company's liquidity.

CapEx Guidance Revised: Full-year 2025 CapEx guidance narrowed to $475–$525 million, mainly due to lease financing offsetting previous CapEx expectations.

Growth Outlook: BW Energy targets a significant increase in production to over 90,000 barrels per day by 2028, driven by ongoing projects including Maromba, MaBoMo Phase 2, and Golfinho Boost.

Operating Costs Improved: OpEx per barrel guidance narrowed to $19–$21, down from the previous range of $18–$22, reflecting operational efficiency.

Key Financials
EBITDA
$96 million
Net Profit
$20 million
Cash Position
$260 million
Revenue
$200 million
Year-to-Date Production
8.5 million barrels
Average Daily Production
31,500 barrels per day
Operating Cost per Barrel
$19.5 per barrel (year-to-date)
Capital Expenditure (First 9 Months)
$304 million
Liquidity
$529 million
Leverage Ratio
0.9
2P Reserves (with Maromba addition)
252 million barrels
2C Reserves
388 million barrels
Earnings Call Recording
Other Earnings Calls

Management

Mr. Carl Krogh Arnet
Chief Executive Officer
No Bio Available
Mr. Brice Morlot
Chief Financial Officer
No Bio Available
Mr. Lin Garner Espey
Chief Operation Officer
No Bio Available
Ms. Tara Leiter
Executive VP & General Counsel
No Bio Available
Ms. Liana Almeida
Senior Vice President of Human Capital
No Bio Available
Mr. Thomas Kolanski
Chief Commercial Officer
No Bio Available
Mr. Thomas Moe Young
Chief Strategy Officer
No Bio Available
Mr. Jerome Bertheau
Executive Vice President of Global Projects
No Bio Available

Contacts

Address
Hamilton
Clarendon House, 2 Church Street
Contacts
+14412951422
www.bwenergy.no