Promising 2024 half-year results for Maurel & Prom

The Maurel & Prom company announced increased production for the first half of 2024. Production in M&P share reaching 37,113 boe/d, an increase of 29% compared to the second half of 2023. This growth is mainly attributed to an increase of production in Gabon, Angola and Tanzania. In Gabon, production benefited from the start of production of the Ezoe discovery.

The financial results are also positive. The valued production reached $310 million, accompanied by a consolidated turnover of $412 million. The average selling price of oil stabilized around $84.0 per barrel. The group's net cash position is positive, with a position of $27 million as of June 30, 2024.

Maurel & Prom also announced the payment of a dividend of 0.30 euros per share, for a total of $65 million, reflecting its desire to return the value created to its shareholders. The company continues to show robust growth momentum and a strengthening of its financial position.