Panoro Energy has reported first-quarter performance to be in line with expectations as the company advanced a series of offshore development and exploration projects…
Panoro Energy has reported first-quarter performance to be in line with expectations as the company advanced a series of offshore development and exploration projects across Equatorial Guinea and Gabon while progressing what it dubbed 'a transformational' acquisition in Block G offshore Equatorial Guinea.
The company said the acquisition of an additional 40.375% interest in Block G, announced in February, is expected to position Panoro to achieve group net production of 20,000 barrels of oil per day during 2027.
Group production averaged 15,000 bopd on a pro forma basis during the quarter, while pro forma 2P reserves stood at around 84 million barrels at year-end 2025.
Panoro declared a quarterly cash distribution of $5.38 million (NOK 50 million) for payment in June.
“Panoro has started 2026 with strong strategic and well-timed momentum. The announced acquisition of an additional interest in Block G is a transformational step for the Company at an opportune moment, helping position us to deliver group net production of 20,000 bopd during the course of 2027. This acquisition will make Panoro a materially larger and more resilient business, strengthening our capacity to generate cash flow through the
Content Original Link:
" target="_blank">
