Edition:
United Kingdom

Genel Energy PLC (GENL.L)

GENL.L on London Stock Exchange

202.00GBp
19 Feb 2019
Change (% chg)

-1.00 (-0.49%)
Prev Close
203.00
Open
204.00
Day's High
205.00
Day's Low
200.50
Volume
317,753
Avg. Vol
849,085
52-wk High
302.00
52-wk Low
114.00

Latest Key Developments (Source: Significant Developments)

Genel Energy Tawke License Production Averaged 113,041 Bopd During 2018
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - Genel Energy PLC ::REG-GENEL ENERGY PLC GENEL ENERGY PLC: UPDATE ON TAWKE PSC.GENEL ENERGY PLC - GROSS PRODUCTION FROM TAWKE LICENSE, CONTAINING TAWKE AND PESHKABIR FIELDS, AVERAGED 113,041 BOPD DURING 2018.GENEL ENERGY PLC - PESHKABIR PRODUCTION FROM SIX WELLS AVERAGED 54,000 BOPD IN JANUARY 2019.GENEL ENERGY PLC - IN JANUARY 2019 TAWKE PRODUCTION AVERAGED 74,000 BOPD.  Full Article

Genel aims to grow portfolio to sustain dividend within 1-2 yrs-CFO
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Genel Energy PLC ::GENEL CFO SAYS FOR ACQUISITIONS, WE ARE LOOKING FOR PRODUCING ASSETS OR ASSETS W SHORT CYCLE TO PRODUCTION, INSIDE OR OUTSIDE KURDISTAN.GENEL CFO SAYS WE HAVE HUNDREDS OF MILLIONS OF FIREPOWER FOR ACQUISITIONS, BUT 2X EBITDA IS LIMIT.GENEL CFO SAYS SEES COMMERCIAL AGREEMENT WITH KURDISTAN REGIONAL GOVERNMENT ON BINA BAWI PROJECT IN 2019.GENEL CFO SAYS AIMS TO GROW PORTFOLIO TO SUSTAIN DIVIDEND WITHIN 1-2 YRS.  Full Article

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

UPDATE 1-UK Stocks-Factors to watch on Jan 15

Jan 15 - Britain's FTSE 100 index is seen opening 45 points higher at 6,900 on Tuesday, according to financial bookmakers with FTSE 100 futures up 0.69 percent ahead of the cash market open. * SAVILLS: UK-based real estate services provider Savills said on Tuesday it expected a decline in transaction volumes in some markets this year due to Brexit-related uncertainties. * ASHMORE: British emerging markets-focused asset manager Ashmore on Tuesday said net inflows of new client money more than off