Kistos Holdings, listed on the London Stock Exchange under the ticker KIST, issued a press release on Monday, September 15, 2026, reporting results for the six months ended June 30, 2026. The company said pro-forma EBITDA was approximately $205 million, while actual EBITDA was $154 million. Revenue for the period was $211.9 million, compared with $87.9 million in the first half of 2025. Kistos said its fully unhedged operations captured average realized oil prices of $97 per barrel and gas prices of $82 per barrel of oil equivalent.
Actual production averaged 11,800 barrels of oil equivalent per day, or boepd. Pro-forma production, which the company said includes the contribution from the Oman assets, averaged 20,800 boepd. Kistos maintained its full-year pro-forma production guidance at 19,000 to 21,000 boepd.
Total cash and near cash stood at $259 million at the end of the period, including $128 million of unrestricted cash and $95 million held in escrow for the Oman acquisition. Adjusted net debt was $23 million, down from $86 million on June 30, 2025. The company said it had refinanced through a $300 million senior secured bond issue at par, with a 9.875% coupon and a four-year maturity.
Kistos completed the acquisition of a 20% working interest in Oman Blocks 3&4 on September 14, 2026, following receipt of a Royal Decree. The transaction was effective from January 1, 2025. The company expects to complete the acquisition of a 5% working interest in Block 9 in the second half of 2026, also with an effective date of January 1, 2025.
The Balder Next New Wells project was sanctioned in June 2026 and is expected to start up by the end of 2027. The company said the project will drill seven wells targeting approximately 8.6 million barrels of oil equivalent net, and that it carries a breakeven of approximately $30 per barrel.
