Panoro Energy ASA
OSE:PEN
Panoro Energy ASA
Panoro Energy ASA operates as an independent exploration and production company, which explores, produces, transports, and markets oil and natural gas. The company is headquartered in Oslo, Oslo. The company went IPO on 2010-06-08. The firm reports two segments: The West African segment holds the following assets: the Dussafu Marin exploration licence located in Gabon, and the OML113-Aje exploration license in Nigeria, as well as The Corporate and others segment consists of head office and service company operations. The firm has offices in Oslo, Norway; London, the United Kingdom; and Rio de Janeiro, Brazil. Panoro Energy ASA operates through its owned subsidiaries based in Brazil, the United Kingdom, Cyprus, the Netherlands, Tunisia, Nigeria, Gabon and the Cayman Islands.
Panoro Energy ASA operates as an independent exploration and production company, which explores, produces, transports, and markets oil and natural gas. The company is headquartered in Oslo, Oslo. The company went IPO on 2010-06-08. The firm reports two segments: The West African segment holds the following assets: the Dussafu Marin exploration licence located in Gabon, and the OML113-Aje exploration license in Nigeria, as well as The Corporate and others segment consists of head office and service company operations. The firm has offices in Oslo, Norway; London, the United Kingdom; and Rio de Janeiro, Brazil. Panoro Energy ASA operates through its owned subsidiaries based in Brazil, the United Kingdom, Cyprus, the Netherlands, Tunisia, Nigeria, Gabon and the Cayman Islands.
Revenue & EBITDA: Panoro reported Q3 revenue of $63.5 million and EBITDA of $19.3 million, with 9-month revenue at nearly $150 million and EBITDA at $70 million.
Distributions: The company maintained its commitment to shareholder returns, declaring a quarterly cash distribution of NOK 80 million and achieving a cumulative NOK 790 million in distributions and buybacks since March 2023.
Production: Group production in Q3 was affected by planned maintenance in Gabon and downtime in Equatorial Guinea, with full-year 2025 production now expected to average slightly below 11,000 barrels per day.
CapEx: Capital expenditure guidance for 2025 is unchanged at $40 million, with just under $30 million spent in the first nine months.
M&A & Strategy: Management emphasized a continued focus on accretive M&A and organic growth, with ongoing evaluation of new deals and development projects.
Asset Progress: The Dussafu asset continues to perform well, with further drilling and the Bourdon discovery progressing towards FID, while seismic surveys are underway in Gabon and Equatorial Guinea to support future growth.
