Panoro Energy ASA ( (PESAF) ) has released its Q2 earnings. Here is a breakdown of the information Panoro Energy ASA presented to its investors.
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Panoro Energy ASA is an independent exploration and production company based in London, primarily operating in the oil and gas sector with assets across Africa, including Equatorial Guinea, Gabon, Tunisia, and South Africa.
In its half-year report for 2025, Panoro Energy ASA highlighted a mixed performance with increased production levels but a decline in revenue and profits compared to the previous year. The company reported an average production of 11,526 barrels of oil per day, up from 9,168 bopd in the first half of 2024, yet faced challenges with unplanned downtime in Equatorial Guinea impacting overall output.
Financially, Panoro reported a revenue of USD 86 million for the first half of 2025, a significant drop from USD 142.8 million in the same period of 2024. This decline was attributed to fewer crude oil liftings and lower realized oil prices. The company’s EBITDA also decreased to USD 50.7 million from USD 77.8 million in the previous year, with a net loss of USD 1.9 million compared to a net profit of USD 24.2 million in 2024.
Strategically, Panoro continues to focus on its development projects, including the significant Bourdon oil discovery in Gabon, which is expected to enhance future production. The company also maintains its capital expenditure guidance at USD 40 million for the year, with lighter spending anticipated in the second half.
Looking ahead, Panoro Energy remains committed to its strategic initiatives and is optimistic about restoring production levels in Equatorial Guinea by the fourth quarter. The management’s outlook suggests a focus on operational efficiency and strategic investments to drive future growth.