Presentation

Maha Energy is a Swedish E&P company with a diverse portfolio of operated onshore oil producing assets in Brazil, US, and Oman. The company is focused on production and lower risk development assets, with a strategy centered around enhanced oil recovery and diversification of geographical and asset concentration risk. The company is listed at NASDAQ Main Market in Stockholm.

Maha has established a diversified operated production and development portfolio through a series of acquisitions in recent years. After the acquisitions of the Tie and Tartaruga fields in Brazil in 2017, Maha returned to inorganic growth through the acquisitions of assets in the Illinois Basin in the US and Block 70, containing the Mafraq discovery, in Oman in 2020. The company’s core asset is Tie, where Maha has more than doubled production and 2P reserves to ~3,000 boepd and 22 mmboe since 2017. Tie at present accounts for the majority of Maha’s production and ~45% of 2P reserves. Tie is expected to continue to ramp up production in the near term, while Tartaruga is currently undergoing a facility upgrade to handle 2,500 bopd, which is expected to be completed in Q3’21.

In H1’21, Maha reported an average net production of 3,421 boepd and EBITDA of USD 19.2m. Net 2P reserves levels stood at ~48 mmboe at YE’20.