BW Energy posts strong Q3 2025 results, lowers capex guidance

BW Energy announced strong third-quarter 2025 results, with net production reaching 2.4 million barrels (26.3 kbopd). The company achieved an EBITDA of $96.0 million and a net profit of $20.1 million. Operational efficiency was maintained through high production uptime and the successful completion of the annual Dussafu maintenance program on time and budget, contributing to an operating cash flow of $89.5 million. The cash position stood at $259.3 million, supported by a new $250 million revolving credit facility.

Key development projects, including Maromba and Golfinho Boost, are progressing as planned, with Maromba project financing secured through a $365 million facility. The Kudu appraisal well in Namibia was successfully spudded, and Bourdon is moving towards a final investment decision. The company updated its 2025 guidance, maintaining production at 11-12 mmbbls (30-32 kbopd) and narrowing operating costs to $19-21 per barrel.

Notably, 2025 capital expenditures guidance was reduced by $175 million to $475-525 million, primarily due to the lease financing of the Maromba rig acquisition. This strategic move, along with competitive cost levels, underpins BW Energy’s disciplined approach to capital management and long-term value creation.