Second quarter 2025 operational update
BW Energy will publish its financial results for the second quarter and first half of 2025 on 1 August 2025. Today, the company provides preliminary operational figures.
Net production attributable to BW Energy was 2.9 million barrels of oil (mmbbls) in the second quarter 2025, equivalent to 32.3 thousand barrels of oil per day (kbopd), from the Dussafu license in Gabon (73.5% working interest) and the Golfinho field in Brazil (100% working interest).
| Q2 2025 | Q1 2025 | Q2 2024 | |
| Production (mmbbls) | 2.9 | 3.2 | 2.1 |
| Dussafu | 2.4 | 2.6 | 1.4 |
| Golfinho | 0.5 | 0.7 | 0.7 |
| Production (kbopd) | 32.3 | 36.0 | 23.6 |
| Dussafu | 26.6 | 28.7 | 15.6 |
| Golfinho | 5.7 | 7.3 | 8.0 |
| Net volume sold (mmbbls) | 2.8 | 3.7 | 1.9 |
| Dussafu1 | 2.3 | 3.2 | 0.9 |
| Golfinho | 0.5 | 0.5 | 1 |
| 1incl. Domestic market obligations (DMO) | 0.07 | 0.07 | 0.03 |
| 1incl. State profit oil | 0.30 | 0.32 | 0.17 |
| Quarter-end stock inventory (mmbbls) | 0.5 | 0.2 | |
| Dussafu | -0.2 | -0.4 | |
| Golfinho | 0.7 | 0.6 | |
| Average realised price (USD) | 66.7 | 74.8 | 83.8 |
| Dussafu | 66.2 | 74.8 | 81.1 |
| Golfinho | 69.1 | 75.0 | 86.4 |
| Operational costs2 (USD per barrel) | 20.4 | 16.5 | 28.5 |
| Dussafu | 14.3 | 9.9 | 19.8 |
| Golfinho | 49.0 | 42.2 | 45.4 |
2) Operating costs exclude Royalties, Tariffs, Workovers, Domestic Market Obligation purchases, Production Sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments.
Reporting
BW Energy will publish its financial results for the second quarter and first half of 2025 on 1 August at 07:00 CEST. Management will host a webcast presentation later the same day at 14:00 CEST, followed by a live Q&A session. The webcast will be available at www.bwenergy.no.
For further information, please contact:
Martin Seland Simensen, VP Investor Relations BW Energy
+47 416 92 087, martin.simensen@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
