Genel Energy Share News (GENL)

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Genel Energy non-executives buy GBP2.6 million in shares

Genel Energy PLC - Kurdistan-focused oil and gas exploration and production company - Bilgin Grup Dogalgaz AS buys 3.0 million shares at GBP0.83 each for a total of GBP2.5 million on Tuesday in London. Genel Non-Executive Director Umit Tolga Bilgin is vice-chair of Bilgin Grup.

IN BRIEF: Genel Energy oil output at Tawke "ramped up" post closure

Genel Energy - London-based oil producer with assets in Somaliland, Morocco and Iraq's Kurdistan region - Says gross production from Tawke licence in the Kurdistan region of Iraq in the third quarter of 2023 was 25,984 barrels of oil per day, compared to no production in the second quarter of 2023, and down from 108,500 bopd a year prior. Production was shut after the closure of the Iraq-Turkey pipeline in March. The Tawke field was reopened in July and production has since "ramped up," Genel Energy says. The contractor share of crude oil from the field during the quarter was sold to local buyers with payments received directly in advance. "No crude oil was delivered to the Kurdistan regional government for export by pipeline through Turkey," Genel Energy says.

Genel Energy reports ramp up of production from Tawke field

(Sharecast News) - Genel Energy announced that crude oil output from the Tawke field in Iraq's Kurdistan region was continuing to ramp up.

IN BRIEF: Genel Energy accepts offers for USD16.2 million of bonds

Genel Energy PLC - London-based oil producer with assets in Somaliland, Morocco and Iraq's Kurdistan region - Announces the result of the reverse tender offer to holders of Genel Energy 4 Finance PLC's USD300 million senior unsecured callable bonds. Says the company accepted offers for USD16.2 million nominal value of bonds with the maximum accepted price set to 93.5% of nominal value. States cash settlement for the bonds, including accrued interest, is expected to occur on October 13. Pareto Securities acted as broker for the buy-back offer.

EARNINGS AND TRADING: EDX Medical reports loss; Brandshield CFO leaves

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

IN BRIEF: Genel Energy announces bond buyback offer to bondholders

Genel Energy PLC - London-based oil producer with assets in Somaliland, Morocco and Iraq's Kurdistan region - To holders of Genel Energy 4 PLC's USD300 million senior unsecured callable bonds with ISIN NO0010894330, offers reverse tender offer. Targets around USD20 million in nominal value of bonds for cash management purposes. Buyback offer starts Monday and lasts until next week Wednesday. Company will determinate the maximum accepted price next week Thursday, with cash settlement expected the day after.

Turkey says Iraq oil pipeline will resume 'this week'

(Alliance News) - Turkey said Monday that an Iraqi oil pipeline that ceased operations in March because of a complex payments dispute involving the Kurdish autonomous region will resume pumping crude this week.

Gulf Keystone fears for its future viability amid Kurdistan crude suspension

Cuts 55% expat jobs, reviewing further cuts

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IN BRIEF: Genel Energy notes operational restart at Tawke oil field

Genel Energy PLC - London-based oil producer with assets in Somaliland, Morocco and Iraq's Kurdistan region - Notes update by DNO ASA concerning the Tawke field in Kurdistan, in which Genel has a 25% working interest. DNO, the Tawke production sharing agreement's operator, has partially restarted operations there and is selling its oil production entitlement share to local companies. News follows a four-month shut-in due to the Iran-Turkey Pipeline export route closing. The restart was partly for well integrity and reservoir tests, but Genel says DNO has also continued producing "to meet strong demand." Peshkabir field, also within the Tawke licence area, is still shut in. Tawke's average output is currently around 40,000 barrels per day. Prices average just over 50% of pre-closure levels.

DNO partly resumes oil production in Iraq

OSLO, Aug 17 (Reuters) - Norwegian oil company DNO said on Thursday it had last month partly resumed production at its Tawke field in the Iraqi Kurdistan region, delivering oil to the local market at a discount as a key export pipeline remained shut.

DNO partly resumes oil production in Iraq

OSLO, Aug 17 (Reuters) - Norwegian oil company DNO said on Thursday it had last month partly resumed production at its Tawke field in the Iraqi Kurdistan region, delivering oil to the local market at a discount as a key export pipeline remained shut.

Genel Energy earnings plummet as pipeline closure hits production

(Alliance News) - Genel Energy PLC on Wednesday said it suspended dividend payments and swung to a loss in the first half of the year, following the closure of a key pipeline.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Company associated with Genel Energy director buys shares

Genel Energy PLC - Kurdistan-focused oil and gas exploration and production company - Bilgin Grup Dogalgaz AS buys 630,000 shares at GBP1.20 each for a total of GBP756,000 on Monday. Genel Non-Executive Director Umit Tolga Bilgin is vice-chair of Bilgin Grup Dogalgaz AS.