(Boursier.com) — Maurel & Prom delivered Group production in M&P share in 2023 of 28,057 boe/d, an increase of 10% compared to 2022. The turnover of $682 million in 2023 shows a small increase of 1% compared to 2022 .
Available liquidity as of December 31, 2023 stands at $159 million, including $97 million in cash and $62 million in undrawn RCF tranche.
During the 2023 financial year, M&P repaid a total of $120 million in gross debt, reducing its gross debt to $217 million as of December 31, 2023 (compared to $337 million at the end of 2022), including $146 million in bank loans ( including $5 million of RCF drawn as of December 31, 2022) and $71 million of shareholder loan.
Net debt therefore decreased by $80 million over the year 2022 and amounted to $120 million as of December 31, 2023, compared to $200 million as of December 31, 2022. Furthermore, it should be noted that M&P collected in January 2024 a total of $98 million corresponding to the payment of the removal carried out in Gabon in December 2023 and the exercise by TPDC of its call option for the acquisition of the 20% in Mnazi Bay.
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