|Bid||179.00 x 343500|
|Ask||235.50 x 340000|
|Day's Range||206.00 - 214.50|
|52 Week Range||88.50 - 302.00|
|Beta (3Y Monthly)||2.92|
|PE Ratio (TTM)||1.93|
|Earnings Date||Jul 30, 2018 - Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.78|
The overture from Somaliland comes as Ethiopia begins exploiting an estimated 8 trillion cubic feet of natural gas and test-drilling for oil in its restive east. “Why not send natural gas and crude oil from the Ogaden basin to Somaliland’s coast at Berbera?” Somaliland Minister of Energy and Minerals Jama Mohamoud Igel said in an interview, referring to the region’s main port.
Genel, which has been operating in the Kurdistan Region of Iraq for over a decade, has benefited from strong output at the Peshkabir oilfield operated by Norwegian oil firm DNO ASA (DNO.OL) and 25 percent owned by Genel. DNO said earlier this week that production at Peshkabir had ramped up to 50,000 bopd, meeting the year-end target ahead of schedule and below budget. Genel, looking to wipe out its net debt by year-end, also said it became net cash positive with a cash pile of $281 million (213.6 million pounds) and net debt reduced to $16 million as of Sept. 30.
(Adds company news items and futures) Oct 10 (Reuters) - Britain's FTSE 100 index is seen opening 12 points lower at 7,226 with FTSE 100 futures down 0.08 percent ahead of the cash market open on Wednesday, ...
For Genel Energy plc’s (LON:GENL) shareholders, and also potential investors in the stock, understanding how the stock’s risk and return characteristics can impact your portfolio is important. GENL is exposedRead More...
Iraqi Kurdistan-focused Genel Energy (GENL.L) is likely to significantly increase its oil production guidance next year, Chief Financial Officer Esa Ikaheimonen said on Tuesday. London-listed Genel reaffirmed its 2018 production guidance of 32,800 barrels of oil per day in its half-year results on Tuesday. Genel's shares were up nearly 6 percent by 0738 GMT after gaining more than 150 percent since the start of the year due to higher oil prices and a stronger production outlook.
Iraqi Kurdistan-focused Genel Energy is likely to significantly increase its oil production guidance next year, Chief Financial Officer Esa Ikaheimonen said.
Genel Energy plc (LON:GENL) is a small-cap stock with a market capitalization of UK£700.33m. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, theyRead More...
LONDON (Reuters) - Kurdistan-focused Genel Energy (GENL.L) might start drilling in Somaliland next year, Chief Executive Murat Ozgul said on Thursday, as the group reported 2017 results broadly in line ...
The decline in production is due to a continuing slide in output from the Taq Taq field, once considered Genel's flagship field, after the well hit water in 2016. Genel's operations in the northern Iraqi region were, however, largely unaffected following the Kurdistan Regional Government's (KRG) independence referendum late last year that led to a military confrontation with Baghdad as well as sanctions from neighbouring countries, its Chief Financial Officer Esa Ikaheimonen told Reuters. Although the unrest slowed Genel's efforts to find a partner to develop the Miran and Bina Bawe gas fields, Genel is increasingly betting on their development after a recent survey showed a 40 percent increase in gas resources to 14.7 trillion cubic feet.
Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics.
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.