BW Energy will publish its financial results for the fourth quarter of 2025 on 5 February 2025. Today, the company provides preliminary operational figures.
Net production attributable to BW Energy was 2.3 million barrels of oil (mmbbls) in the fourth quarter of 2025, equivalent to 25.2 thousand barrels of oil per day (kbopd), from the Dussafu field in Gabon (73.5% working interest) and the Golfinho field in Brazil (100% working interest). Production in the quarter was impacted by a longer-than-expected maintenance period at Golfinho, which was successfully completed in November. Volumes sold was affected by a late lifting at Dussafu, occurring after end of quarter.
For the full year 2025, net production to BW Energy amounted to 10.9 mmbbls, equivalent to 29.9 thousand barrels of oil per day (kbopd), near the lower end of the guided range of 11-12 mmbbls (30-32 kbopd). Net operational costs for the full year ended at 20 USD/bbl, in the middle of the guided range of 19-21 USD/bbl.
| Q4 2025 | Q3 2025 | Q4 2024 | |
| Production (mmbbls) | 2.3 | 2.4 | 3.1 |
| Dussafu | 2.1 | 1.8 | 2.5 |
| Golfinho | 0.3 | 0.6 | 0.6 |
| Production (kbopd) | 25.2 | 26.3 | 33.6 |
| Dussafu | 22.4 | 20.0 | 27.3 |
| Golfinho | 2.7 | 6.3 | 6.4 |
| Net volume sold (mmbbls) | 1.8 | 2.9 | 3.2 |
| Dussafu1 | 1.3 | 2.5 | 2.7 |
| Golfinho | 0.5 | 0.5 | 0.5 |
| 1incl. Domestic market obligations (DMO) | 0.16 | 0.29 | 0.10 |
| 1incl. State profit oil | 0.26 | 0.23 | 0.31 |
| End of quarter stock inventory (mmbbls) | 0.9 | 0.3 | 0.2 |
| Dussafu | 0.4 | -0.5 | -0.2 |
| Golfinho | 0.5 | 0.8 | 0.4 |
| Average realised price (USD/bbl) | 62.2 | 68.5 | 72.6 |
| Dussafu | 59.8 | 67.7 | 72.5 |
| Golfinho | 68.8 | 72.6 | 73.5 |
| Operational costs2 in (USD/bbl) | 21.3 | 22.7 | 18.1 |
| Dussafu | 12.5 | 15.7 | 11.7 |
| Golfinho | 93.8 | 44.8 | 45.3 |
Source: BW Energy
