Kistos lifts output, strengthens balance sheet and expands into Oman with value-accretive deal

Kistos PLC ( (GB:KIST) ) has shared an announcement.

Kistos reported that 2025 proforma exit production reached 22,700 boepd including its pending Omani interests, while actual average production of 9,000 boepd came in at the top end of guidance, supported by strong performance from Norway’s Balder area following start-up of the Jotun FPSO and Balder Future wells. Year-end proforma net 2P reserves are estimated at 49 mmboe, with 2026 proforma production guidance reaffirmed at 19,000–21,000 boepd. Financially, the company ended 2025 with $199 million of cash and near-cash, boosted by Norwegian tax rebates, and adjusted net debt of approximately $81 million, leaving the balance sheet positioned to fund further growth. Operational progress included final investment decisions on Balder Phase VI and the first phase of the Balder Next debottlenecking and drilling programme, improved uptime at the Q10-A asset in the Netherlands, and the restart project for the Hole House gas storage facility, which will lift storage capacity by 63% over two years. Strategically, the binding agreement to acquire interests in Omani Blocks 9, 3 and 4—expected to add 25.6 mmboe of 2P reserves at about $5.80 per barrel of oil equivalent—marks a significant geographic diversification beyond the North Sea and gives Kistos exposure to high-quality onshore assets with growth potential, while the anticipated assumption of operatorship of the Greater Laggan Area by Serica Energy is expected to unlock additional infill drilling and tie-back opportunities, underlining the company’s focus on both organic growth and further value-accretive M&A in the North Sea and MENA regions.

The most recent analyst rating on (GB:KIST) stock is a Hold with a £170.00 price target. To see the full list of analyst forecasts on Kistos PLC stock, see the GB:KIST Stock Forecast page.

Spark’s Take on GB:KIST Stock

According to Spark, TipRanks’ AI Analyst, GB:KIST is a Neutral.

The overall stock score is primarily impacted by the company’s weak financial performance and poor valuation metrics. Technical analysis provides a slightly positive outlook with a short-term bullish trend, but the negative MACD and oversold Stochastic suggest caution. The absence of earnings call data and corporate events limits further insights.

To see Spark’s full report on GB:KIST stock, click here.

More about Kistos PLC

Kistos Holdings plc is an independent energy company listed in London that focuses on unlocking value from its existing oil and gas portfolio and through value-accretive mergers and acquisitions. The Group’s assets are concentrated in the North Sea region, including Norway, the UK and the Netherlands, and it is expanding into the Middle East via interests in onshore Omani blocks, targeting both production growth and reserve additions across its upstream and gas storage activities.

Average Trading Volume: 176,590

Technical Sentiment Signal: Buy

Current Market Cap: £148.3M

See more data about KIST stock on TipRanks’ Stock Analysis page.