October 10, 2018 / 6:28 AM / 2 months ago

Oil producer Genel Energy sees 2018 output above target

Oct 10 (Reuters) - Iraqi Kurdistan-focused oil producer Genel Energy expects 2018 output to be slightly above the prior target of 32,800 barrels of oil per day, as production ramps up at its cash generating Peshkabir field, it said on Wednesday.

The company said it had become net cash positive, with a cash pile of $281 million and net debt reduced to $16 million as at Sept. 30. (Reporting by Shariq Khan in Bengaluru; Editing by Amrutha Gayathri)

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