ShaMaran Reports Q3 EBITDAX More Than Fourfold Higher
ShaMaran said Q3 2026 EBITDAX was more than four times the year-earlier level despite losing one month of production to Iran war-related shut-ins. The company realized an average net oil price above $107 per barrel.
ShaMaran Petroleum Ltd. announced its financial results for the third quarter of 2026, reporting that EBITDAX was more than four times higher than the comparable quarter in 2025. This performance was achieved despite the loss of one month of production due to shut-ins caused by the Iran war. The company realized an average net oil price of over $107 per barrel during the quarter.
Additionally, ShaMaran confirmed the closure of its investment in the Hamrin field, securing a 25% shareholding in HKN Hamrin Ltd., and noted that it received $26.7 million in oil sales proceeds and top-up payments after the quarter ended. The company also reiterated that its proposed merger with Gulf Keystone Petroleum Ltd. is expected to complete next year, subject to necessary approvals.