Production Outperformance
Average production rates of 45,900 barrels of oil equivalent per day for the quarter, above guidance. Year-to-date production averaged 44,600 BOEs per day.
Blackrod Phase 1 Development Ahead of Schedule
The Blackrod Phase 1 development project is expected to be delivered a quarter ahead of the original schedule, with first steam by year-end and first oil in Q3 2026.
Successful Refinancing
Refinanced Nordic bonds with a 7.5% coupon rate maturing in October 2030.
Strong Operational Performance
Operating cash flow of USD 66 million and EBITDA of USD 62 million for the quarter.
No Material Incidents
No material incidents recorded during the quarter, maintaining a strong safety record.