Production Surge
Production in the first half reached 488,000 barrels per day, almost three times the previous year, significantly enhanced by the Wintershall Dea transaction.
Strong Cash Flow and Shareholder Returns
Improved full year cash flow outlook to $1 billion and announced a new $100 million share buyback, bringing expected total shareholder distributions for 2025 to $550 million.
Operational Efficiency
Unit operating costs reduced by more than 30% to $12.40 per barrel, reflecting the addition of the Wintershall Dea portfolio and strong production volumes.
Debt Reduction
Strengthened financial position by reducing net debt by $0.9 billion to $3.8 billion, achieving a leverage of 0.5x.
Environmental Progress
Achieved a step change improvement in greenhouse gas intensity, now down by more than 1/3 to 12 kilograms per barrel, below peer average.