Unaudited financial and operational results for the six months ended June 30, 2026. Review of half-year performance against guidance.
Uzen Oilfield delivered strong operating momentum in the first half of 2026, driven by higher realized liquids prices and the successful acceleration of our well-intervention program. Despite scheduled maintenance turnarounds at our primary central processing facility in April, production volumes remained largely flat compared to H1 2025.
We generated $1.15 billion in revenue for the half-year, translating into $215 million of free cash flow. This solid financial footing has allowed us to reduce our net debt position by $85 million during the period, well ahead of our internal deleveraging targets.
Our focus for the second half of the year remains firmly on maintaining cost discipline, bringing the Phase 3 compression station online, and protecting our base production yields through advanced AI reservoir modeling technologies.
Capital Expenditure for the first half totaled $165 million, representing approximately 53% of our full-year guidance. We anticipate CapEx to temper slightly in H2 as major drilling campaigns conclude.
| Metric (in millions USD) | H1 2025 | H1 2026 | % Change |
|---|---|---|---|
| Gross Revenue | 1,050 | 1,150 | +9.5% |
| Operating Costs | 410 | 415 | +1.2% |
| EBITDA | 195 | 235 | +20.5% |
| Net Profit | 145 | 210 | +44.8% |
| Net Debt | 620 | 535 | -13.7% |
Given the strong cash flow generation and favorable macro outlook, the Board has declared an interim dividend of $0.45 per share, payable on September 15th, 2026 to shareholders of record as of August 25th, 2026.
Operational Guidance:
Financial Guidance: