Meren Energy Reports Strong Q3 2025 Results and Dividend

Africa Oil Corp ( (MRNFF) ) has released its Q3 earnings. Here is a breakdown of the information Africa Oil Corp presented to its investors.

Meren Energy Inc., formerly known as Africa Oil Corp, is a Canadian upstream oil and gas company with significant operations in deep-water offshore Nigeria, Namibia, South Africa, and Equatorial Guinea. The company is known for its involvement in the Orange Basin, including the Venus light oil project offshore Namibia.

In its latest earnings report, Meren Energy announced a fourth quarterly dividend of approximately $25.1 million, bringing total distributions for 2025 to $100.3 million. The company also highlighted its strategic amalgamation with Prime, which has strengthened its financial position by reducing its RBL debt significantly. The company achieved average daily production rates in line with expectations and maintained a strong cash balance by the end of the third quarter.

Key financial metrics for the third quarter of 2025 include a net income of $5.2 million and an EBITDAX of $119.8 million. The company reduced its RBL debt by $180 million during the quarter, ending with a debt balance of $360 million. Meren’s cash flow from operations before working capital adjustments was reported at $243.1 million for the first nine months of 2025.

Looking ahead, Meren Energy plans to continue enhancing production performance in Nigeria and advancing its exploration and development projects in Namibia and South Africa. The company remains focused on maintaining a strong balance sheet and delivering sustainable shareholder returns through its dividend policy.

Meren Energy’s management is optimistic about future growth opportunities, particularly with its involvement in the Venus project, which is expected to be a major contributor to Namibia’s offshore oil development. The company aims to leverage its strategic partnerships and exploration activities to drive long-term value for its shareholders.