|Bid||0.000 x 0|
|Ask||0.000 x 0|
|Day's Range||1.170 - 1.226|
|52 Week Range||0.730 - 2.190|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The company proposed refinancing some of its bonds through a partial early redemption and reducing its debt by replacing the existing bond agreement with a new $300 million deal. Genel, one of a handful of foreign oil companies in Iraqi Kurdistan, is also looking to extend maturity through amending and restating terms to a new 5 year bond with a coupon of 10 percent per annum. The company said a bondholders meeting will be held on Dec. 20 and that bondholders holding a significant proportion of the bonds have confirmed they will vote in favour of the proposal.
Iraqi Kurdistan-focused oil producer Genel Energy plc is seeking to reduce its bond debt to $300 million from the currently outstanding $421.8 million.
Genel said the well, which was drilled to a measured depth of 3,100 metres, encountered good quality oil bearing Cretaceous Shiranish and Kometan reservoirs. "Combined with the testing results, management is optimistic for the potential of the northern flank of the Taq Taq field," said Genel, one of a handful of foreign oil firms in Iraqi Kurdistan. The Taq Taq field currently has gross production of 15,100 barrels per day of oil.
Genel Energy Plc says one of its wells, drilled to appraise the northern end of its Taq Taq oilfield in Kurdistan region of Iraq, encountered oil bearing reservoirs.
Categories: Yahoo FinanceGet free summary analysis Genel Energy Plc reports financial results for the half-year ended June 30, 2017. We analyze the earnings along side the following peers of Genel Energy Plc – Petro Rio SA and Paramount Resources Ltd. Class A (PRIO3-BR and PRMRF-US) that have also reported for this period. Highlights Summary numbers: Revenues of ... Read more (Read more...)
Genel Energy appoints an outsider as chief financial officer, diversifying a leadership team that has been dominated by Turkish executives since the departure of its 2 co-founders.
When one of the biggest crude producers in Iraqi Kurdistan downgraded reserves in March, doubts about the economic potential of the region -- a key player in the fight against Islamic State terrorism -- ...
Genel Energy's chairman and co-founder Tony Hayward is to leave in June and will be replaced by another industry veteran, Stephen Whyte, as the Kurdistan-focused oil company seeks to restore its fortunes after bruising reserve downgrades. Hayward, the 59 year-old former chief executive of BP who resigned in 2010 following the Gulf of Mexico Deepwater Horizon disaster, bought Genel with British financier Nat Rothschild in 2011 with the aim of developing prospects in Iraqi Kurdistan and Africa at a time when oil prices stood above $100 per barrel.
Genel Energy Plc, whose shares have dropped 90 percent in three years, named Stephen Whyte as chairman-designate to replace Tony Hayward.