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Genel Energy Reports Operational Resumption
Genel Energy PLC has issued an operational update, aligning with DNO's recent announcement. Drilling activities have recommenced, with production resuming at the Tawke field on 28 June and at the Peshkabir field on 11 July. DNO anticipates stable production at the Tawke license, pending any security issues.
The company is currently selling its entitlement oil at prices in the mid-to-upper USD 30s per barrel, seeking to access export markets or prices to boost cash flow from the Tawke PSC. This move has the potential to more than double the current free cash flow generation.
Genel remains committed to exploring new market opportunities to enhance financial returns. The company continues to maintain its operations responsibly while listed on the London Stock Exchange.
R. E.
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