• WI production averaged 19,887 boe/d in 3Q25, exceeding our forecast of ~19,160 boe/d. This outperformance was driven by stronger-than-expected volumes from Gabon (7,118 boe/d vs our estimate of 6.6 mboe/d and company guidance of 6.4–7.1 mboe/d). Despite a full platform shutdown in July for planned maintenance, Gabon’s production impact was less than anticipated.
• On the back of robust Gabon performance and sustained drilling activity in Egypt, the lower end of FY25 production guidance has bee ....
