Maurel et Prom : Un désendettement qui s’accélère
>Recommandation Neutre maintenue - Des cours du baril élevés sur 2022 associés à une discipline financière ont permis au groupe de bénéficier d’une vive accélération du FCF et ainsi d’accélérer son désendettement. La prochaine étape est la finalisation de l’acquisition de Wentworth Resources (T2/T3 2023) qui permettrait à M&P d’augmenter sa participation sur le projet gazier de Mnazi Bay (80% post opération versus 48.06%). Nous réitérons notre recommandation Neutre s...Etablissements Maurel et Prom is engaged in the oil and gas industry. Co. is engaged in mainly two activities: exploration and production of oil and gas; and oil drilling. The goal of the exploration business is to discover exploitable accumulations of hydrocarbons. It includes geological and geophysical studies, acquisition and seismic processing as well as exploratory drilling. Co. operates in 12 countries and 4 continents, including Colombia, Peru, France, Italy, Congo, Tanzania, Gabon, Namibia, and Mozambique. Co. is also engaged in a project of gold exploration in Mali. As of Dec. 31 2013 Co. had close to 100,000 sq. km of exploration areas in 12 countries on 4 continents.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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