Panoro Energy ASA (PESAF) has released an update.
Panoro Energy ASA reports a strong financial performance for the first half of 2024, with a 115% increase in revenue to USD 142.7 million and a 100% rise in EBITDA to USD 77.8 million, compared to the previous year. The company’s working interest production jumped by 27% to 9,168 bopd and is expected to exceed 13,000 bopd by year-end following successful drilling campaigns in Gabon and Equatorial Guinea. In addition to operational success, Panoro declared a second-quarter cash distribution of NOK 50 million and continues its share buyback program, emphasizing its commitment to shareholder returns and growth.
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