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Genel Energy PLC (GENL.L)

GENL.L on London Stock Exchange

172.40GBp
13 Dec 2018
Change (% chg)

-5.80 (-3.25%)
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Latest Key Developments (Source: Significant Developments)

Genel Energy Says Production At Peshkabir Field In Kurdistan Ramped Up To 50,000 Bopd
Tuesday, 9 Oct 2018 

Oct 9 (Reuters) - Genel Energy PLC ::GENEL ENERGY PLC: UPDATE ON TAWKE PSC.PRODUCTION AT PESHKABIR FIELD IN KURDISTAN REGION OF IRAQ HAS RAMPED UP TO 50,000 BOPD.TAWKE PRODUCTION CURRENTLY STANDS AT JUST OVER 80,000 BOPD.  Full Article

DNO and Genel receive $69 mln in Tawke payment for May
Monday, 20 Aug 2018 

Aug 20 (Reuters) - DNO ASA ::REG-DNO REPORTS PAYMENT FOR TAWKE DELIVERIES.REPORTED RECEIPT OF USD 69.03 MILLION AS PAYMENT FOR MAY 2018 CRUDE OIL DELIVERIES TO EXPORT MARKET FROM TAWKE LICENSE IN KURDISTAN REGION OF IRAQ.FUNDS WILL BE SHARED BY DNO AND PARTNER GENEL ENERGY PLC PRO-RATA TO COMPANIES' INTERESTS IN LICENSE.SEPARATELY, A PAYMENT OF USD 5.99 MILLION HAS BEEN RECEIVED NET TO DNO, REPRESENTING THREE PERCENT OF GROSS TAWKE LICENSE REVENUES DURING MAY.FOLLOWING REGULARIZATION OF EXPORT PAYMENTS FOR TAWKE LICENSE PRODUCTION SINCE FEBRUARY 2016, COMPANY WILL NO LONGER MAKE MONTHLY RECEIPTS ANNOUNCEMENTS.COMPANY WILL INSTEAD UPDATE MARKET ON EXPORT VOLUMES AND VALUES AS PART OF ITS QUARTERLY FINANCIAL REPORTING.  Full Article

Genel Energy Affirms 2018 Production Forecast
Tuesday, 7 Aug 2018 

Aug 7 (Reuters) - Genel Energy PLC ::HY PRODUCTION WORKING INTEREST 32,100 BOPD VERSUS 37,100 BOPD.HY REVENUE $161.1 MILLION VERSUS $87.1 MILLION.HY OPERATING PROFIT $73.3 MILLION VERSUS $14.2 MILLION.CASH GENERATION EXPECTED TO REMAIN STRONG IN H2 2018, WITH MONTHLY FREE CASH FLOW OF OVER $10 MILLION.2018 PRODUCTION GUIDANCE OF C.32,800 BOPD REITERATED.2018 CAPITAL EXPENDITURE NET TO GENEL IS FORECAST TO BE $95-125 MILLION (PREVIOUSLY $95-140 MILLION).NET DEBT REDUCED SIGNIFICANTLY TO $64 MILLION COMPARED TO $135 MILLION AT END OF 2017; EXPECT TO BE IN NET CASH POSITION AROUND END OF 2018.  Full Article

Genel Gets $62.33 Mln From Kurdistan Regional Government As April Payment
Friday, 20 Jul 2018 

July 20 (Reuters) - Genel Energy PLC ::RECEIVED $62.33 MILLION FROM KURDISTAN REGIONAL GOVERNMENT AS PAYMENT FOR APRIL CRUDE OIL DELIVERIES TO EXPORT MARKET FROM TAWKE LICENCE.TAQ TAQ PARTNERS RECEIVED GROSS PAYMENT OF $6.53 MILLION FROM KRG FOR OIL SALES DURING APRIL;GENEL'S NET SHARE OF PAYMENT IS $3.59 MILLION.RECEIVED OVERRIDE PAYMENT OF $8.12 MILLION FROM KRG, REPRESENTING 4.5% OF TAWKE GROSS LICENCE REVENUES FOR APRIL.IN TOTAL, GENEL'S NET SHARE OF PAYMENTS RELATING TO APRIL 2018 EXPORTS TOTALS $27.26 MILLION.  Full Article

DNO and Genel receive $62.3 mln for April crude oil deliveries from Tawke license in Iraq
Friday, 20 Jul 2018 

July 20 (Reuters) - DNO ASA ::REG-DNO REPORTS PAYMENT FOR TAWKE DELIVERIES.TODAY REPORTED RECEIPT OF USD 62.33 MILLION AS PAYMENT FOR APRIL 2018 CRUDE OIL DELIVERIES TO EXPORT MARKET FROM TAWKE LICENSE IN THE KURDISTAN REGION OF IRAQ.FUNDS WILL BE SHARED BY DNO AND PARTNER GENEL ENERGY PLC PRO-RATA TO COMPANIES' INTERESTS IN LICENSE.SEPARATELY, A PAYMENT OF USD 5.41 MILLION HAS BEEN RECEIVED NET TO DNO.DNO OPERATES AND HAS A 75 PERCENT INTEREST IN THE TAWKE LICENSE, WHICH CONTAINS THE TAWKE AND PESHKABIR FIELDS.  Full Article

Genel Energy Says To Reduce Outstanding Bond Debt To $300 Mln
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Genel Energy Plc ::REFINANCING OF GENEL01 APPROVED BY BONDHOLDERS' MEETING.‍TO REDUCE OUTSTANDING BOND DEBT FROM $421.8 MILLION TO $300 MILLION BY WAY OF EARLY REDEMPTION OF NOTIONAL AMOUNT OF $121.8 MILLION.  Full Article

Genel Energy ‍Update On Tawke PSC​
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Genel Energy Plc ::‍UPDATE ON TAWKE PSC​.‍PRODUCTION FROM PESHKABIR FIELD IN TAWKE LICENCE IN IRAQ'S KURDISTAN REGION TRIPLED TO 15,000 BOPD.‍TOTAL OF 11 ZONES IN 1.2 KM HORIZONTAL SECTION OF CRETACEOUS, JURASSIC RESERVOIR IN PESHKABIR-3 WELL TESTED AND FLOWED SUCCESSFULLY​.‍PREPARATIONS ARE UNDERWAY TO DRILL PESHKABIR-4 WELL, WHICH WILL ALSO BE DESIGNED TO TEST UNDERLYING TRIASSIC RESERVOIR​.  Full Article

Genel Energy seeks to cut bond debt to $300 mln
Wednesday, 6 Dec 2017 

Dec 6 (Reuters) - Genel Energy Plc ::INSTRUCTED TRUSTEE FOR GENEL01 BONDS TO SUMMONS BONDHOLDERS' MEETING.PROPOSES TO REFINANCE GENEL01 THROUGH PARTIAL EARLY REDEMPTION, DEBT REDUCTION BY REPLACING EXISTING BOND AGREEMENT WITH NEW $300 MILLION BOND DEAL​.SEEKS TO REDUCE ITS EXISTING BOND DEBT FROM CURRENTLY OUTSTANDING USD 421.8 MILLION TO USD 300 MILLION​.‍BONDHOLDERS WILL, ON A PRO-RATA BASIS, RECEIVE PARTIAL EARLY REDEMPTION OF $121.8 MILLION IN CASH AT CALL PREMIUM OF 103% OF PAR VALUE​.  Full Article

Genel Energy says Gross Production From Taq Taq Field Is 15,100 Bopd
Monday, 4 Dec 2017 

Dec 4 (Reuters) - GENEL ENERGY PLC ::ANNOUNCES AN UPDATE ON ACTIVITY AT TAQ TAQ FIELD (GENEL 44% WORKING INTEREST).TT-29W WELL HAS BEEN COMPLETED AS A PRODUCER AFTER SUCCESSFULLY ENCOUNTERING OIL BEARING CRETACEOUS RESERVOIRS.WELL, WHICH WAS DRILLED TO A MEASURED DEPTH OF 3,100 METRES, ENCOUNTERED GOOD QUALITY OIL BEARING CRETACEOUS SHIRANISH AND KOMETAN RESERVOIRS.TT-29W PRODUCTION HAS COMMENCED FROM LOWER SHIRANISH RESERVOIR AT A RATE OF 3,200 BPD OF DRY OIL ON A RESTRICTED 24/64 INCH CHOKE.GROSS PRODUCTION FROM TAQ TAQ FIELD IS CURRENTLY 15,100 BOPD.  Full Article

Genel ‍agreement with Moroccan government about Sidi Moussa licensed acreage​
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Genel Energy Plc ::GENEL ENERGY PLC - ‍AGREEMENT WITH MOROCCAN GOVERNMENT RELATED TO REMAINING EXPLORATION COMMITMENT ON SIDI MOUSSA OFFSHORE LICENSED ACREAGE​.GENEL ENERGY - ‍PREVIOUS COMMITMENT TO DRILL ONE WELL ON LICENCE REPLACED BY UNDERTAKING TO CARRY OUT A 3D SEISMIC CAMPAIGN ACROSS SIDI MOUSSA ACREAGE​.GENEL ENERGY PLC - ‍SEISMIC ACQUISITION EXPECTED TO BEGIN IN 2018, CURRENT PHASE OF LICENCE HAS BEEN EXTENDED UNTIL FEBRUARY 2020​.GENEL ENERGY PLC - ‍"3D SEISMIC IS EXPECTED TO MATERIALLY DE-RISK PROSPECTIVITY OF SIDI MOUSSA LICENCE​".  Full Article

UPDATE 1-Norwegian oil firm DNO beats forecasts with Q3 operating profit, output rises

OSLO, Nov 1 Norwegian oil firm DNO said on Thursday third-quarter earnings beat forecasts, helped by higher oil prices and rising output in the Kurdistan region of northern Iraq.