Kistos (KIST) H1 2026 TU earnings summary

Executive summary

• H1 2026 pro forma production reached 20,500 boepd, with FY26 guidance maintained at 19,000–21,000 boepd.

• Pro forma 2P reserves stand at 47.6 MMboe, reflecting a 65% reserves replacement ratio in H1 2026.

• Strong operational uptime achieved, with key planned shutdowns executed and major drilling projects progressing.

• Successful transition of Greater Laggan Area operatorship and progress on Oman acquisitions support future growth.

Financial highlights

• Pro forma EBITDA for H1 2026 was approximately $205 million; non-pro forma EBITDA was $155 million.

• Average realised prices: $104/bbl for oil and 97p/therm for gas.

• Cash position at $259 million as of 30 June 2026, up from $179 million at year-end 2025.

• Adjusted net debt at $23 million, reflecting strong liquidity.

Outlook and guidance

• FY26 pro forma production guidance reaffirmed at 19,000–21,000 boepd.

• Completion of Oman Blocks 3 & 4 expected soon, with Block 9 completion anticipated later in H2 2026.

• Ongoing focus on value-accretive M&A and organic growth opportunities across the portfolio.