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Genel Energy Provides Q1 2026 Trading and Operations Update
Genel Energy plc has released its Q1 2026 trading and operations update. In Kurdistan, production at the Tawke license started strong with two new wells launched but paused production in late February due to regional tensions. Limited operations restarted in April, with plans to boost production when conditions improve.
For Q1 2026, gross average production reached 52,800 bopd, marking a decrease from Q4 2025. The average sales price was $31 per barrel. Financially, free cash flow was impacted, resulting in a $2 million outflow, maintaining $131 million in net cash.
In Oman and Somaliland, exploration progresses with plans for further drills. Genel anticipates further business investments and asset acquisitions. Efforts continue to manage financial balances with the Kurdistan Regional Government.
R. E.
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