Meren Energy Inc (STU:AFZ0)

Q4 2025 Meren Energy Inc Earnings Call Transcript

Feb 25, 2026 / 02:00 PM GMT

Release Date Price: €1.28 (-8.86%)

Transcript

Key Points

Positve

Meren Energy Inc (MRNFF) successfully closed a transformational prime consolidation deal, doubling reserves and production from high-quality assets offshore Nigeria.
The company delivered strong shareholder returns with $100 million in base dividends and $8 million in share buybacks.
Meren Energy Inc (MRNFF) significantly deleveraged its balance sheet by repaying $420 million of the outstanding RBL facility, resulting in cost savings and a healthy net debt to EBITDX ratio of 0.4x.
The company achieved working interest production of 30.8 thousand barrels of oil equivalent per day, in line with full-year guidance.
Meren Energy Inc (MRNFF) announced a first quarterly dividend of 2026 of $25 million, showcasing its commitment to shareholder returns.

Negative

The company reported an impairment of $105.3 million related to the Agbalmi cash-generating unit due to oil price volatility and updated cost forecasts.
Production was lower during the fourth quarter due to planned maintenance shutdowns and minor facility issues, impacting overall performance.
The company's EBITDA fell short of full-year guidance due to larger overlift adjustments and variations in Nigerian royalties and levies.
Meren Energy Inc (MRNFF) experienced a decline in reserves from 2024 to 2025, attributed to the longest period without active drilling in the fields' history.
The company faces challenges in securing Nigeria drill rigs, which could impact the timing of future drilling campaigns.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MER.TO - Meren Energy Inc
Q4 2025 Meren Energy Inc Earnings Call
Feb 25, 2026 / 02:00PM GMT

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Presentation
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Do.

Lovely, sorry, guys. So, just the run of show for today. Obviously, as you've all probably guessed, it is audio only. From regards to the speakers, we'll have two separate connections, so, Aldo and Oliver will join from the same connection in the hotel. Mussana's obviously going to be on his own connection. Musana is going to be, so Jen, Massana's the sort of second moderator, if you like. He'll be the one that's dealing with any written questions that come through.

From what he's just confirmed, we're expecting minimal numbers in terms of actual sales side analysts, so, raised hands, we shouldn't have too much.

We've got the pre-record, so obviously, we'll go live on the pre-record to start, because Jen's

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