Increased Production in Jubilee and GTA
Jubilee's first well of the 2025/26 campaign delivered around 10,000 barrels per day of gross oil production. GTA production ramped up, lifting 13.5 gross LNG cargos by the end of October, with the first condensate cargo lifted as well.
Cost Reductions
CapEx continues to fall, expected to be below $350 million, a reduction of around $500 million year-on-year. Operating costs are down almost 40% quarter-on-quarter, with targeted savings of $25 million in overhead by year-end.
Balance Sheet Enhancements
A $250 million term loan from Shell was secured to address upcoming debt maturities. A semi-annual re-determination of the RBL was successfully completed, maintaining a borrowing base above $1.35 billion.