Nostrum Oil & Gas (NOG) H1 2026 TU earnings summary

Executive summary

• EBITDA exceeded $27 million in H1 2026, up 14% year-over-year, with free cash flow over $11 million after bond coupon payments.

• Operational growth driven by a 5.2% increase in average daily processed volumes, supported by higher third-party feedstock and effective management of Chinarevskoye field decline.

• Majority bondholders supported the extension of bond maturity to 31 December 2030, providing a stable financial platform.

Financial highlights

• Revenue for H1 2026 estimated at $72 million, up from $64.1 million in H1 2025, driven by higher export volumes and stronger Brent crude prices ($92.2/bbl vs $71.9/bbl).

• Net operating cash flow reached approximately $22 million in H1 2026.

• Unrestricted cash and cash equivalents exceeded $154 million as of 30 June 2026, up from $143.3 million at year-end 2025.

• Interest payments totaling $25.2 million were made in June 2026, with $15.6 million funded from DSRA.

Outlook and guidance

• Focus remains on safe, reliable operations, financial resilience, and disciplined execution of strategic priorities for sustainable long-term value.

• Comprehensive reviews underway for Chinarevskoye well workovers and Stepnoy Leopard Fields development strategy.