Kistos Holdings发布交易声明和运营更新

来源:www.gulfoilandgas.com,2026年1月8日,地点:欧洲

Kistos是一家专注于释放现有资产组合价值并通过增值并购实现价值增长的独立能源公司,欣然提供以下未经审计的交易和运营最新信息,以配合其截至2025年12月31日止年度的业绩发布。

增值并购活动

:Kistos已与Mitsui E&P Middle East BV达成具有约束力的协议,收购其在阿曼9号区块(Occidental为作业者)5%的工作权益以及在3号和4号区块(CCED为作业者)20%的工作权益(“阿曼收购”),生效日期为2025年1月1日(“生效日期”),该协议已于2025年12月9日公布。阿曼收购的完成须获得惯常的政府和监管机构批准以及合作伙伴的同意。收购完成后,公司将适时发布进一步公告,包括有关完成机制和交易对公司财务影响的任何信息。
预计截至生效日,Kistos 将新增 2560 万桶油当量(运营商估计)的 2P 净储量,2P 储量的估值约为 5.80 美元/桶油当量。

产量和储量

:2025 年备考(1)退出产量为 22,700 桶油当量/日,包括阿曼权益,并受益于 Balder 五期六口井中两口井的增产
。2025 年实际平均产量为 9,000 桶油当量/日,处于指导范围的上限(8,000 - 9,000 桶油当量/
日)。年末备考净 2P 储量估计为 4900 万桶油当量(公司估计)
。2026 财年备考产量指导维持在 19,000 - 21,000 桶油当量/日。

财务

状况:截至 2025 年 12 月 31 日:

现金(包括准现金)为 1.99 亿美元(2),此前公司于 2025 年 12 月收到与挪威资产相关的 7500 万美元税收抵免(预计收到的款项归因于 2024 年的活动,已在公司中期报告中提及)。结果)
2025日历年度在挪威的净支出应收税款退税约2800万美元,将于2026年12月支付 调整
后净债务(3)约8100万美元(代表现金及准现金等价物,扣除未偿债券债务账面价值2.8亿美元)

(1) 备考数据包含阿曼收购项目的产量。该收购预计将于2026年第一季度完成。

(2) 非国际财务报告准则(IFRS)指标。包含2800万美元准现金,假设截至2025年12月31日已收到2025年挪威税款退税。另有2200万美元存入托管账户,用于标准信贷和退役安排。

(3)非国际财务报告准则指标。管理团队认为,调整后净债务指标能够反映集团的整体流动性,因此具有实用价值。该指标反映了截至2025年12月31日,若已收到约2800万美元的挪威2025年税收抵免,净债务将发生怎样的变化。其定义为现金及现金等价物(包括受限现金)减去未偿债券债务的账面价值。

运营

方面,随着挪威 Jotun FPSO 的投产和 14 口 Balder Future 油井的增产,Balder 区域的总产量在 9 月份超过了 11,000 桶油当量/日(净产量)。Balder
第六期项目的最终投资决定 (FID) 已于 2025 年做出,计划开发约 150 万桶油当量(净产量),并于 2026 年进行钻探。Balder
Next 项目的第一阶段现已获得批准,包括 Jotun FPSO 的产能提升改造,以及钻探新的生产井,目标是新增约 360 万桶油当量(净产量)的储量。下一阶段将包括于2028年对Balder浮式生产装置(FPU)进行退役,准备工作将于2026年开始,这将显著降低从Balder地区输送碳氢化合物的运营成本。Serica
Energy预计将于2026年第一季度从TotalEnergies手中接管大拉根地区的运营权。这一变化带来了巨大的内生增长潜力,并有机会通过加密钻井和开发更多第三方回接至设得兰天然气厂的管道来获取近期价值。2025年下半年,
荷兰Q10-A资产的正常运行时间大幅提高,生产效率约为97%。此前,由Taqa运营的P15回接设施发生了一次计划外的长时间停机,严重影响了我们向管网输送天然气的能力。9月份
做出最终投资决定(FID)后,Hole House储气设施的恢复运营工作已经启动。这将使我们的天然气储存能力在未来两年内提高63%。

Kistos 执行主席 Andrew Austin 评论道:
“Kistos 在 2025 年再次实现了增长。我们成功完成了所有四个既定优先事项:实现 Balder Future 的首次产油,达到全年产量指导的上限(8,000-9,000 桶油当量/天),继续将 2C 资源转化为 2P 储量,以及完成一项增值并购交易,同时继续投资于我们现有的资产基础。

收购阿曼9号区块和3、4号区块权益的协议对Kistos而言意义重大。此次收购使我们的投资组合在地域上多元化,不再局限于北海,并让我们有机会投资于具有巨大增长潜力的优质陆上资产。预计收购将于2026年第一季度完成,我们已做好充分准备,将这些世界级资产整合到我们的投资组合中。

在运营方面,Jotun FPSO和Balder Future油井的成功投产推动Balder油田9月份的净产量超过11,000桶油当量/日;12月底,Balder五期计划中的六口井中的前两口井开始增产,这意味着我们可以期待未来保持高产量。此外,我们还批准了Balder六期和Balder Next一期项目,这将提升产能、降低运营成本并增加可观的储量。

在英国,预计大拉根地区(Greater Laggan Area)的运营权将于2026年初交接,这将为近期加密钻井和回接作业提供机遇。我们已启动霍尔豪斯(Hole House)天然气储存设施的复工工作,预计未来两年内将产能提升63%。

在荷兰,Q10-A设施的正常运行时间在经历了此前第三方回接设施的挑战后,于下半年提升至约97%。

财务方面,Kistos依然稳健。年末现金(包括准现金)为1.99亿美元(含挪威税收抵免),调整后净债务约为8100万美元。我们稳健的资产负债表得益于我们有能力为进一步的增长机会提供资金、保持灵活性并持续提升股东价值。

展望未来,我们2026年的工作重点明确:

完成并整合阿曼的收购;
与合作伙伴Vär Energi携手推进巴尔德地区(Balder Area)的后续开发阶段;
释放大拉根地区的内生增长潜力。
加强我们在英国的天然气储存资产,这对英国的能源安全至关重要。

我们将继续专注于北海和中东及北非地区更多近期能够提升价值的并购机会,以增强集团和股东价值。

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原文链接/GulfOilandGas

Kistos Holdings Provides Trading Statement and Operational Update

Source: www.gulfoilandgas.com 1/8/2026, Location: Europe

Kistos, an independent energy company focused on unlocking value within its existing portfolio and through value-accretive M&A, is pleased to provide the following unaudited trading and operational update ahead of its results for the year ended 31 December 2025.

Value accretive M&A activities

· Kistos entered into a binding agreement to acquire a 5% working interest in Block 9 (Occidental as operator) and a 20% working interest in Blocks 3 & 4 (CCED as operator) in Oman from Mitsui E&P Middle East B.V. (the "Oman Acquisition"), with an effective date of 1 January 2025 (the "Effective Date"), as announced on 9 December 2025. Completion of the Oman Acquisition is subject to customary governmental and regulatory approvals and partner consents. Further announcements will be provided in due course, upon completion of the Acquisition, including any information on completion mechanics and the financial impact of the transaction on the Company.
· Expected to add 25.6 mmboe (operator estimates) of 2P reserves net to Kistos as at the Effective Date, with a valuation of approximately $5.80/boe of 2P reserves.

Production and reserves

· 2025 proforma(1) exit production rate was 22,700 boepd, including Oman interests and augmented by the ramp-up of two of the six Balder Phase V wells
· Actual production for 2025 averaged 9,000 boepd at the top end of guidance (8,000 - 9,000 boepd)
· Year-end proforma net 2P reserves estimated to be 49 mmboe (Company estimate)
· FY26 proforma production guidance remains at 19,000 boepd - 21,000 boepd

Financial

As at 31 December 2025:

· Cash, including near-cash, of $199 million (2), following receipt of $75 million in tax rebates in December 2025 relating to the Company's Norwegian assets (the anticipated receipt, attributable to activity in 2024, which was noted in the Company's Interim Results)
· Tax rebates receivable of approximately $28 million in respect of net expenditure in Norway during the 2025 calendar year payable in December 2026
· Adjusted net debt(3) of approximately $81 million (representing cash and near-cash equivalents, net of the carrying amount of outstanding bond debt of $280 million)

(1) Proforma figures include production from the Oman Acquisition. The acquisition is expected to complete in the first quarter of 2026.

(2) Non-IFRS measure. Includes $28 million of near-cash, assuming receipt of the 2025 Norwegian tax rebate as at 31 December 2025. A further $22 million is maintained in escrow for standard credit and decommissioning arrangements.

(3) Non-IFRS measure. Adjusted net debt is a measure that the management team believes is useful as it provides an indicator of the Group's overall liquidity. It shows the impact on net debt as if the 2025 Norwegian tax rebate of approximately $28 million had been received as at 31 December 2025 and is defined as cash and cash equivalents, including restricted cash, less the carrying amount of outstanding bond debt.

Operational

· Following the start-up of the Jotun FPSO in Norway and ramp-up of the 14 Balder Future wells, total Balder area production exceeded 11,000 boepd (net) in September.
· A Final Investment Decision (FID) on Balder Phase VI was taken in 2025 to develop circa 1.5 mmboe (net), which will be drilled in 2026.
· The first phase of the Balder Next project has now been sanctioned and consists of the debottlenecking at Jotun FPSO to increase production capacity in addition to the drilling of new production wells targeting additional reserves of approximately 3.6 mmboe (net). The subsequent phase will include the decommissioning of the Balder FPU in 2028, with preparation work starting in 2026, which will significantly reduce the operating costs of delivering hydrocarbons from the Balder area.
· Serica Energy is anticipated to assume operatorship of the Greater Laggan Area from TotalEnergies in the first quarter of 2026. This change offers significant organic growth potential and opportunities to extract near-term value from infill drilling and the development of further third-party tie-backs to the Shetland Gas Plant.
· Uptime substantially improved on Q10-A asset in the Netherlands in H2 2025, with production efficiency at circa 97%, following an unplanned extended outage at the Taqa-operated P15 tieback facility, which significantly impacted our ability to deliver gas into the network.
· Work has commenced on returning the Hole House gas storage facility to service following a FID in September. This will increase our gas storage capacity by 63% during the course of the next two years.

Andrew Austin, Executive Chairman of Kistos, commented:
"Kistos again delivered growth in 2025. We successfully executed on all four of our stated priorities: achieving Balder Future first oil, meeting the higher end of our full-year production guidance (8,000-9,000 boepd), continuing to convert 2C resources to 2P reserves, and executing a value-accretive M&A transaction while continuing to invest in our existing asset base.

The agreement to acquire interests in Block 9 and Blocks 3 & 4 in Oman represents a material step for Kistos. This acquisition geographically diversifies our portfolio beyond the North Sea and provides exposure to high-quality onshore assets with significant growth potential. Completion is expected in the first quarter of 2026, and we are well advanced in preparation for the integration of these world-class assets into our portfolio.

Operationally, the successful start-up of the Jotun FPSO and Balder Future wells drove Balder area production above 11,000 boepd (net) in September, whilst the ramp-up in late December of the first two of six planned Balder Phase V wells means we can look forward to maintaining high production rates going forward. We also sanctioned Balder Phase VI and the first phase of Balder Next, which will enhance capacity, reduce operating costs, and add meaningful reserves.

In the UK, the anticipated transition of operatorship of the Greater Laggan Area in early 2026 offers near-term opportunities for infill drilling and tie-backs, and we commenced work to return the Hole House gas storage site to active service, increasing capacity by 63% over the next two years.

In the Netherlands, uptime at Q10-A improved to ~97% in the second half following earlier challenges with the third-party tieback facility.

Financially, Kistos remains robust. Year-end cash, including near-cash, stood at $199 million, including Norwegian tax rebates, while adjusted net debt was approximately $81 million. Our balance sheet strength is underpinned by our ability to fund further growth opportunities, maintain flexibility, and continue to enhance shareholder value.

Looking ahead, our priorities for 2026 are clear:

· Complete and integrate the Oman acquisition;
· Work with our partner Vår Energi to deliver the next phases of the Balder Area development;
· Unlock organic growth in the Greater Laggan Area; and
· Enhance our UK gas storage assets, which are material to the country's energy security.

We continue to focus on further near-term value accretive M&A opportunities in both the North Sea and MENA regions that enhance the group and shareholder value."

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