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Meren

Description

Meren is a leading independent, full-cycle E&P with production and development assets in deepwater Nigeria, a leading carried position in the Orange Basin across Namibia and South Africa, and operated licences in Equatorial Guinea.

During 2023 and 2024, the Company executed a number of strategic transactions to simplify and strengthen the Company’s fundamental business proposition, including streamlined asset ownership and greater control of its core assets and value drivers. These efforts culminated in the completion of the amalgamation in March 2025 to consolidate full control and ownership of Prime Oil & Gas Coöperatief U.A (Prime) in Meren.

This strategic transaction has been transformational for the Company by doubling its reserves and production, and substantially increasing its earnings and cash flows. Meren has gained direct control over Prime’s cash flows, providing greater financial flexibility. The Company’s enhanced cash flow profile and stronger balance sheet also support the Company’s commitment to shareholder returns, in the form of an annual base dividend of $100 million alongside a commitment to distribute at least 50% of excess annual free cash flow in supplementary dividends and/or cash repurchases.

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Related news

Company Profile: Meren (Formerly Africa Oil)
21/05/2025
Africa Oil Introduces New Brand Identity with Change of Name to Meren
19/05/2025
Africa Oil Completes Transformational Prime Deal
21/03/2025
Africa Oil Provides Namibia Operational Update
06/02/2025
Africa Oil Announces Increase Interest in the Core Orange Basin Block 3B/4B
13/01/2025
Africa Oil Announces Renewal of Nigerian License
01/11/2024
Africa Oil Completes Strategic Farm Down For Orange Basin Block 3B/4B
28/08/2024
Africa Oil Announces Second Quarter 2024 Results
19/08/2024
Africa Oil Announces Second Quarter 2024 Results
15/08/2024
Africa Oil Provides Namibia and Nigeria Operational Update
09/02/2024
Africa Oil Announces Third Quarter Results
15/11/2023
Africa Oil Announces Strategic Hires to Strengthen its Executive Team
04/10/2023
Africa Oil Announces Positive Update on Namibia Operations
28/09/2023
Africa Oil  increases stake in Block 3B/4B, South Africa
11/07/2023
Africa Oil Announces Renewal of OML 130 License
29/05/2023
Africa Oil Announces Further Investment in Impact Oil & Gas
29/04/2023
Africa Oil Announces New CPR For Block 3B/4B, South Africa
09/03/2023
Africa Oil Announces Entry Into Equatorial Guinea
20/02/2023
Africa Oil provides production and operational update
18/01/2023
Africa Oil announces third quarter 2022 financial results
15/11/2022
Africa Oil announces Appointment of COO
12/10/2022
Africa Oil announces the passing of Lukas H. Lundin
27/07/2022
Africa Oil Announces the Receipt of Prime Dividend
30/11/2021
Africa Oil Announces Positive Prime Financing Update
29/10/2021

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