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Meren Energy ( (TSE:MER) ) has provided an announcement.
Meren Energy reported 2025 results marked by the transformative amalgamation of Prime, which doubled its reserves and production, and supported average working interest output of 30,800 boepd and entitlement production of 35,100 boepd. Despite a non-cash impairment at the Agbami unit that drove a full-year net loss of $31.6 million, the company delivered EBITDAX of $440.7 million, cash flow from operations of $261.8 million, and ended the year with net debt reduced to $155.3 million.
The company returned roughly $100 million to shareholders via dividends, repurchased 5.9 million shares, and further strengthened its capital structure by cutting its reserve-based loan by $420 million, lowering interest costs. It also reported year-end 2025 2P reserves of 87.7 MMboe on a working interest basis and declared a 2026 first-quarter dividend of about $25.1 million, while transitioning leadership with Oliver Quinn succeeding Roger Tucker as president, CEO, and director.
More about Meren Energy
Meren Energy Inc. is a Vancouver-based oil and gas company focused on offshore production assets, including those acquired through its consolidation of Prime Oil & Gas. The company generates revenue primarily from crude oil sales and targets resilient, cash-generative operations supported by disciplined capital allocation and balance sheet management.
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