It has formally taken ownership of Blocks 3 & 4 in Oman, with the linked Block 9 deal still on track to close later this year.

Legal ownership of the two onshore Oman blocks has passed to Kistos, clearing the way for formal completion of its $148m acquisition from Mitsui.

The growing energy group reported first-half pro forma production of 20,500 boepd and reiterated full-year guidance, as cash holdings climbed to $259 million.

The North Sea and Norway-focused oil and gas producer reported adjusted EBITDA of $97 million for 2025, with a statutory loss narrowing sharply to $2 million as the Balder Future project reached first oil.

"This project, comprising seven additional wells, will deliver significant additional volumes at an attractive breakeven cost of approximately US$30 per boe," said Andrew Austin, Executive Chairman of Kistos.

Kistos Holdings has priced a US$300 million senior secured bond at par, carrying a 9.875% coupon and maturing in four years, with proceeds contingent on completion of its Oman acquisitions.

The producer reported Q1 proforma output of 21.8 kboepd, proforma EBITDA of about $75m and $204m of cash, while confirming FY26 guidance of 19-21 kboepd.