Genel Energy Share News (GENL)

IN BRIEF: Genel Energy quarterly oil production falls slightly

Genel Energy PLC - London-based oil company focused on the Kurdistan region - Posts slightly lower production of barrels of oil per day in the first quarter of 2022. Net production, while in line with guidance, falls to 30,520 barrels of oil per day from 30,843 a quarter ago. Net cash grows to USD86 million at March 31 from USD44 million at December 31. Margin per barrel climbs to USD30 from USD24 a year ago.

Genel Energy maintains full-year guidance after strong quarter

(Sharecast News) - Genel Energy reiterated its guidance for 2022 production to reach similar levels to 2021 on Thursday, as its first quarter performance was in line with expectations.

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Genel Energy's appraisal well fails to achieve 'stable and sustained' commercial flow

(Sharecast News) - Oil producer Genel Energy said on Tuesday that testing of its Sarta-5 appraisal well was now complete and noted that while oil was recovered to the surface from a number of intervals, a stable and sustained commercial flow was not achieved from the primary reservoir objectives of the Mus and Adaiyah formations nor the secondary Lower Sargalu or Najmah formations.

IN BRIEF: Genel gets USD38 million from Kurdistan for January oil

Genel Energy PLC - London-based oil company focused on the Kurdistan region - Receives a total payment of USD38.3 million from the Kurdistan regional government relating to oil sales during this past January. Notes that it is now owed USD91 million by Kurdistan for oil sales from November 2019 to February 2020 and a suspended override from March to December 2020.

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TRADING UPDATES: Hyve exits Russia; Genel revenue rises in 2021

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Genel confident in outlook amid strong oil prices

(Sharecast News) - Genel Energy reported total revenue of $334.9m (£257.21m) in its full-year results on Tuesday, up from $159.7m year-on-year.

IN BRIEF: Genel Energy receives USD37.9 million for oil sales from KRG

Genel Energy PLC - London-based oil company focused on the Kurdistan region - Receives a USD37.9 million payment from the Kurdistan Regional Government for oil sales during November. Notes that the KRG now owes the company USD111 million for oil sales from November 2019 to February 2020 and a suspended override from March to December 2020.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Genel Energy 2021 oil reserves down year-on-year

Genel Energy PLC - London-based oil company focused on the Kurdistan region - Reports its 2021 net oil reserves are down against the previous year across its portfolio. At December 31, 1P net oil reserves stood at 62.6 million barrels, down from 69.4MMbls a year ago. 2P reserves stood at 104.2MMbls, down from 117.2MMbls year-on-year and 3P reserves fell to 136.6MMbls from 177.2MMbls.

LONDON BROKER RATINGS: Goldman ups Glencore price target, cuts Pearson

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Genel Energy updates on progress at Tawke

(Sharecast News) - Genel Energy updated the market on licence activity at the Tawke production sharing contract on Thursday, where it has a 25% working interest with operator DNO.

Canaccord waiting for clarity from Genel Energy on 'next steps'

(Sharecast News) - Analysts at Cannacord Genuity trimmed their target price for shares of Genel Energy ahead of what they termed an important two years as the oil explorer "refines or defines" its rationale.