Genel Energy PLC: Operational Update

Summary by AI BETAClose X

Genel Energy plc has provided an operational update noting that drilling activities recommenced in April and production at the Tawke and Peshkabir fields resumed in late June and early July respectively. The company's partner expects production at the Tawke license to stabilize around pre-shutdown levels, with entitlement oil currently selling in the mid-to-upper USD 30s per barrel. Genel Energy continues to seek access to export markets or prices, which it believes would more than double free cash flow generation from the Tawke PSC.

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