Commodities
BW Energy Q1 Hydrocarbon Output Flat Sequentially, Down YOY
BW Energy's hydrocarbon production averaged 25,200 barrels of oil equivalent per day in the quarter ended March 31, flat quarter over quarter, but down year over year, primarily due to a sharp decline in Gabon's Dussafu oilfield output, the company's Q1 report showed on Wednesday.The upstream energy company produced 36,000 boe/d in the same quarter of 2025.In Gabon, net output from the Dussafu oilfield dropped to 19,200 boe/d from the previous quarter's 22,400 boe/d and the prior year's 28,700 boe/d, with decreases attributed to "natural decline and downtime on electrical submersible pump," according to the company.With equipment restoration completed during the period, the field's production availability averaged 86% in Q1.In Brazil, net production from the Golfinho field averaged 5,900 boe/d, up from the previous quarter's 2,700 boe/d, but down versus the prior year's 7,300 boe/d. With one well under maintenance, production availability averaged 79% in Q1, the company said.BW Energy's sales volume totaled 2.2 million barrels during the period, higher than the 1.8 mmbbls sold in the previous quarter, but lower than the 3.7 mmbbls sold a year earlier.In a similar manner, crude oil sales amounted to $156.3 million in Q1, up from $86.9 million in Q4 2025, but down from $252.2 million generated in the year-ago period.The company expects total production to average between 24,000 boe/d and 27,000 boe/d this year, and to exceed 100,000 boe/d in 2028, due to development projects including MaBoMo Phase 2, Bourdon field, Maromba field, and Golfinho infill wells.BW Energy expects first oil at the MaBoMo platform and the Bourdon field in Gabon by early 2027 and Q1 2028, respectively.In Brazil, the first phase of Golfinho infill wells project is expected to contribute to total production in 2029.
