Bw Energy Ltd (BWEFF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the BW Energy Q2 presentation. My name is Alan. I'll be your coordinator for today's event. Please note this call is being recorded and for the duration, your lines will be on listen only. However, you have the opportunity to ask questions at the end. This can be done by pressing star one on your telephone keypad. If you require assistance at any time, please press star zero and you'll be connected to an operator. I will now hand you over to your host, Carl Arnet, to begin today's conference. Thank you. Thank you, operator. A warm welcome to this BW Energy second quarter 2026 update. This update will be hosted as usual by our chief operating officer, Brice Morlot, and our chief financial officer, Thomas Young, and myself, Carl Arnet. Please note our disclaimer. and then on to the second quarter highlights. We have just started the Mabomo phase 2 drilling campaign. Super exciting and more of that will follow later on in the presentation. All development projects are on plan and budget and we had of course a record high cash flow on the current oil prices in the quarter. which have strengthened our financial position with respect to sources and uses. We are very much on track to deliver above 100,000 barrels production per day in 2028. On the Q2 results, we had revenues of $296 million in the second quarter We had a net profit of 44, cash from operations we're at 260 million dollars and we had a very healthy cash position of 254 million end of Q2. BW Energy is executing on five projects currently which will add 222 million barrels of 2P reserves and all these have low break-evens and rapid payback. This will take us to 100,000 barrels per day. We will double production in 2027 and we will double again in 2028 from current levels of around 25,000 barrels. The...