Norway · Delayed Price · Currency is NOK BW Energy Earnings Call Transcripts
Fiscal Year 2026
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Production has grown to 30,000 barrels per day, with ambitious plans to reach over 90,000 by 2028, driven by the Maromba project and sustained output from Gabon and Brazil. The company is fully financed for its growth strategy, leveraging repurposed infrastructure and strong financial performance.
Fiscal Year 2025
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Record 2025 production and strong financials were achieved, with major projects on track and $1 billion in new financing secured. 2026 guidance is for flat production and controlled costs, with significant growth expected post-Maromba. Liquidity and balance sheet remain robust.
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Q3 results show stable revenue, strong cash flow, and robust liquidity, with major projects on track and full-year production guidance maintained. Maromba financing is complete, CapEx guidance revised, and production is set to ramp up toward 90,000 barrels/day by 2028.
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Q2 2025 saw strong operational and financial performance, with EBITDA of $99M, net profit of $26.7M, and robust liquidity. Major projects are on track, production guidance is maintained, and financing for Maromba is progressing well.
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Record quarterly EBITDA and net profit were achieved on strong production and high oil prices. Maromba FID was approved, targeting first oil by end-2027 and a ramp-up to 60,000 barrels per day by late 2028, supported by robust financing and a strong balance sheet.
Fiscal Year 2024
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Record 2024 results with net production up 70% and EBITDA up 90% year-over-year. 2025 guidance targets 11–12 million barrels net production, with major projects like Maromba and Kudu advancing and a strong balance sheet supporting growth.
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Q3 2024 delivered record production and financial results, with EBITDA at $130 million and net profit of $48 million. Dussafu output hit new highs, OPEX per barrel fell, and guidance for 2024 production and costs was improved. Maromba and Kudu projects are advancing toward key milestones.
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Net production and revenue more than doubled year-over-year, with EBITDA up 143% and net income surging. Liquidity was strengthened by $210 million, and production guidance was narrowed due to Golfinho reliability, but 40,000 bbls/day is targeted by year-end.