GICS Sector : Energy
Panoro Energy ASA, an independent exploration and production company, engages in the exploration, development, and production of oil and gas in Africa.The company holds assets in the Equatorial Guinea, Gabon, Tunisia, South Africa, and Nigeria.As of December 31, 2021, its 1P reserves included 71.5 million barrels of oil (MMbbls), 2P reserves comprised 99.7 MMbbls, and 3P reserves consisted of 131.3 MMbbls in the Tortue, Ruche, Ruche Northeast, and Hibiscus fields.
Panoro's financial performance for the first 9 months of 2025 was marked by revenue of $150 million and EBITDA of $70 million, with CapEx standing at just under $30 million. In Q3, revenue was $63.5 million, and EBITDA was $19.3 million. The company's EPS came out at -$0.28343, missing estimates of $0.165. The cash position stood at around $44 million, with gross debt of $150 million, resulting in a net debt to trailing 12-month EBITDA ratio of about 1.04x. As Julien Balkany noted, "Since March 2023, we have returned around 33% of our current market cap to shareholders," highlighting the company's commitment to shareholder returns.
Publication Date: Nov -29
Operationally, Panoro's production is expected to average slightly below 11,000 barrels of oil per day. The company realized a premium of around 1% over the average Brent oil price in Q3 and expects to lift around 1.1 million barrels of oil in Q4. The MaBoMo Phase 2 development is planned for mid-2026, and the Bourdon discovery is being matured for FID. The Estrella discovery on Block EG-23 has shown significant potential, with 60 meters of reservoir and a test rate of over 6,700 barrels of oil per day.
Analysts estimate revenue growth of 13.9% for next year, which is a positive indicator. Looking at valuation metrics, Panoro's P/S Ratio stands at 0.93, and EV/EBITDA is 2.42. The Dividend Yield is 14.59%, indicating an attractive return for income investors. However, the Free Cash Flow Yield is -17.64%, which may raise concerns about the company's ability to generate cash. With a ROE of 12.08% and ROIC of 7.67%, Panoro is generating returns above its cost of capital.
Panoro remains focused on M&A opportunities to increase its size and scale, with a constant evaluation of new deals. The company has a history of successful acquisitions and aims to continue this strategy, targeting accretive opportunities that can generate free cash flow from day one. With a robust pipeline of organic growth and a solid M&A strategy, Panoro is well-positioned for future growth.
Panoro Energy ASA (PESAF) Q3 2025 Earnings Call Highlights: Strong Revenue Growth Amid ...
Nov -21
Panoro Energy ASA (PESAF) Q1 2025 Earnings Call Highlights: Strong Reserves Growth and ...
May -22
Panoro Energy ASA (FRA:1PZ) Q4 2024 Earnings Call Highlights: Strong Financial Performance ...
Feb -26
Panoro Energy ASA (FRA:1PZ) Q3 2024 Earnings Call Highlights: Strong Production Milestones and ...
Nov -21
BW, VAALCO and Panoro sign PSCs for Niosi and Guduma Marin blocks in Gabon
Nov -01
Panoro Energy ASA's 3.0% growth in Oil and Gas is driven by increasing production from its Dussafu Marin permit in Gabon, successful exploration and appraisal activities, and strategic acquisitions. Additionally, rising global demand, improved operational efficiency, and favorable oil prices contribute to the growth.
An offshore oil and gas exploration permit located in Gabon, West Africa
An offshore oil field located in Senegal, West Africa
An offshore oil field located in Gabon, West Africa
An offshore oil and gas exploration block located in Gabon, West Africa
The threat of substitutes for Panoro Energy ASA is moderate, as there are alternative energy sources available, but they are not yet widely adopted.
The bargaining power of customers for Panoro Energy ASA is low, as the company operates in a niche market with limited competition.
The bargaining power of suppliers for Panoro Energy ASA is moderate, as the company relies on a few key suppliers for its operations.
The threat of new entrants for Panoro Energy ASA is high, as the energy industry is constantly evolving and new companies are emerging.
The intensity of rivalry for Panoro Energy ASA is moderate, as the company operates in a competitive market, but has a strong market position.
| Value | |
|---|---|
| Debt Weight | 22.74% |
| Debt Cost | 13.02% |
| Equity Weight | 77.26% |
| Equity Cost | 13.02% |
| WACC | 13.02% |
| Leverage | 29.44% |
Value: 8.0
Growth: 5.9
Quality: 4.6
Yield: 10.0
Momentum: 10.0
Volatility: 1.7
1-Year Total Return ->
Value: 7.6
Growth: 9.1
Quality: 6.1
Yield: 5.6
Momentum: 8.0
Volatility: 2.7
1-Year Total Return ->
Value: 5.7
Growth: 5.3
Quality: 6.0
Yield: 9.4
Momentum: 9.5
Volatility: 1.0
1-Year Total Return ->
Value: 7.3
Growth: 6.0
Quality: 8.0
Yield: 8.8
Momentum: 3.5
Volatility: 2.7
1-Year Total Return ->
Value: 8.8
Growth: 8.3
Quality: 6.1
Yield: 6.9
Momentum: 2.0
Volatility: 3.7
1-Year Total Return ->
Value: 7.6
Growth: 4.0
Quality: 5.3
Yield: 8.1
Momentum: 4.5
Volatility: 3.0
1-Year Total Return ->