Meren Announces Third Quarter 2026 Results and Fourth Dividend Distribution
Key Highlights
- ➤2026 EBITDAX guidance raised to $390.0-$440.0 million
- ➤2026 cash flow guidance raised to $250.0-$280.0 million
- ➤Q3 free cash flow $59.1 million reduced net debt $27.1 million
- ➤Fourth 2026 dividend declared at $25.1 million, or $0.0371 per share
- ➤Akpo and Egina drilling campaign set to begin in November 2026
Expert Statements
Oliver Quinn, President and CEO of Meren Energy Inc.
“Our production assets continued to perform in line with expectations during the third quarter, delivering reliable, low-cost production and strong cash generation. We ended the quarter with free cash flow of $59.1 million and reduced net debt to $185.2 million, further strengthening our balance sheet as our Nigerian growth programme gets underway. With one rig now on location and drilling expected to commence imminently, an intervention campaign set to begin shortly, and a second rig scheduled to arrive in the first quarter of 2027, we are entering a sustained period of investment focused on enhancing production, offsetting natural decline, adding reserves and extending the productive lives of our core deepwater Nigerian hubs.”
Meren Energy Inc. VANCOUVER, BC, November 10, 2026 /CNW/ - (MER–TSX, MER–Nasdaq-Stockholm, MRNFF–OTCQX) – Meren Energy Inc. (“Meren” or the “Company”) today published its financial and operating results for the three and nine months ended September 30, 2026, and is pleased to declare its fourth distribution of $25.1 million for this year.
Meren President and CEO, Oliver Quinn, commented: “Our production assets continued to perform in line with expectations during the third quarter, delivering reliable, low-cost production and strong cash generation. We ended the quarter with free cash flow of $59.1 million and reduced net debt to $185.2 million, further strengthening our balance sheet as our Nigerian growth programme gets underway. With one rig now on location and drilling expected to commence imminently, an intervention campaign set to begin shortly, and a second rig scheduled to arrive in the first quarter of 2027, we are entering a sustained period of investment focused on enhancing production, offsetting natural decline, adding reserves and extending the productive lives of our core deepwater Nigerian hubs.”
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