Medco Energi Internasional, ID1000053705

Maybank keeps IDR 2,500 target for Medco Energi Internasional stock

Published on 10/15/2026 at 09:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Medco Energi Internasional stock costs EUR 0.08 on October 15, 2026. First-half net income hit USD 275.3 million, up 796.6 percent year over year.

Acquisition and operating figures

Medco agreed to acquire a 10 percent interest in four gas contracts on October 12, 2026.
First-half net income reached USD 275.3 million, up 796.6 percent year over year.
Medco Energi Internasional stock trades at EUR 0.08 at 9:34 a.m. CEST at Lang & Schwarz on October 15, 2026.
Maybank Sekuritas Indonesia kept its IDR 2,500 target in research dated October 13, 2026.

Medco Energi Internasional, ID1000053705, Illustration mit AI erstellt.

Medco Energi Internasional (ID1000053705) was trading at EUR 0.08 at Lang & Schwarz on October 15, 2026, while a new gas acquisition and a higher first-half profit shape the investor picture. According to Kontan on October 15, 2026, Maybank Sekuritas Indonesia maintained an IDR 2,500 target after Medco agreed to acquire a 10 percent interest in four production-sharing contracts in the Kutai Basin.

Gas assets add a new growth test

The planned transaction covers the Muara Bakau, Ganal, West Ganal and East Ganal contracts. The portfolio includes producing gas at Jangkrik, the Gendalo-Gandang development and the Geliga discovery, according to Kontan's October 15, 2026 report.

Maybank analyst Hasan Barakwan said the assets could strengthen Medco's gas portfolio because prices are linked to oil and the projects offer long-term production potential. The transaction therefore adds operating scope before it adds a confirmed financial contribution to forecasts.

What do the results mean for earnings?

Medco's first-half 2026 results show the scale of the existing business. In its results presentation dated September 29, 2026, MedcoEnergi reported revenue of USD 1,414.7 million, up 23.4 percent from USD 1,146.9 million in the first half of 2025. EBITDA rose 30.7 percent to USD 805.1 million, while net income reached USD 275.3 million, up 796.6 percent from USD 30.7 million.

The operating figures support that earnings comparison. Oil and gas production reached 170.1 thousand barrels of oil equivalent per day in the first half of 2026, versus 142.9 thousand in the first half of 2025. Power sales rose 16.5 percent year over year to 2,322.9 GWh, with renewable power sales at 590.1 GWh.

Three dated steps for Medco

On September 21, 2026, Medco published first-half results with USD 275.3 million of net income. On September 23, 2026, its Cendramas production-sharing contract became effective. On October 13, 2026, Maybank's research kept the IDR 2,500 target after the gas transaction.

When are the next milestones?

The company presentation dated September 29, 2026 identifies first gas at Sakakemang in the third quarter of 2027 and first gas at Sampang in the fourth quarter of 2027. For 2026, Medco guides oil and gas production to 165 to 170 thousand barrels of oil equivalent per day and power sales to 4,550 GWh.

Price and investor perspective

Medco's first-half cash cost was USD 8.4 per barrel of oil equivalent, below its 2026 guidance of USD 10.0. The company also reported operating cash flow of USD 514.7 million for the first half of 2026, up 46.6 percent year over year.

Medco Energi Internasional stock was trading at EUR 0.08 at Lang & Schwarz on October 15, 2026 at 9:34 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Medco Energi Internasional stock.