ShaMaran Petroleum Ltd. Reports Q3 2026 Financial Results and Operational Updates

ShaMaran Petroleum reported Q3 2026 EBITDAX at more than four times the level of the same quarter in 2025, despite losing one month of production to shut-ins related to the Iran war. Its average net oil price exceeded $107 per barrel. The company completed its investment in the Hamrin field, securing a 25% stake in HKN Hamrin Ltd., and received $26.7 million in oil-sale proceeds and top-up payments after quarter-end. ShaMaran said its proposed merger with Gulf Keystone Petroleum is expected to close next year, subject to approvals.