Business
Genel Energy PLC: Trading and operations upda...
Genel Energy plc provided a trading and operations update indicating a resilient core business capable of covering costs even at discounted domestic prices of over $30/bbl, supported by a strong balance sheet with $224 million in cash and $134 million in net cash as of December 31, 2025. The company reported a full-year 2025 working interest production of 17,520 bopd, with realised prices at $32/bbl, resulting in a core business netback of $11 million and free cash flow of $4 million. Key strategic priorities include geographical diversification, progress on the Tawke PSC with a new drilling campaign, preliminary operational success on Block 54 in Oman with two wells planned, and continued efforts to drill the Toosan-1 well in Somaliland. The company also noted $88 million in overdue receivables from the Kurdistan Regional Government. Disclaimer*
About this update from Genel Energy Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nGenel Energy PLC (GENL)\n\n\n\n\n\n\nGenel Energy PLC: Trading and operations update 27-Jan-2026 / 07:00 GMT/BST\n\n\n27 January 2026\n\n \n\nGenel Energy plc\n\nTrading and operations update\n\n \n\nGenel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in advance of the Company's full-year 2025 results, which are scheduled for release on 18 March 2026. The information contained herein has not been audited and may be subject to further review.\n\n \n\nPaul Weir, Chief Executive of Genel, said:\n\n“We are well positioned to progress on our strategy and deliver significant value to our shareholders. Notably, we have a resilient core business, which covers its costs even when sales are restricted to discounted domestic market pricing at just over $30/bbl and a balance sheet that provides the funding required to deliver on our strategic objectives.\n\n \n\nGeographical diversification of our cash generation remains the priority for the business. Our process remains active with live opportunities under review, and we continue to pursue and bid on these opportunities. We will retain our discipline and rigorous evaluation process to ensure every opportunity we choose to pursue is value accretive over the long term for our shareholders and meets our priority criteria.\n\n \n\nThere is significant, currently unvalued, potential in our portfolio. On the Tawke PSC, the new drilling campaign is underway targeting the maximisation of production from, and additions to, the existing material reserves base there. In terms of accessing export pricing, the first stage of the new Kurdistan export arrangement has been reported by all participants to be working. We congratulate those stakeholders involved in the significant effort and trust that has resulted in export arrangements reaching this promising stage. We see sustained and consistent execution as a key consideration as we keep export arrangements under review. On Block 54 in Oman, preliminary operational work has been completed safely, ahead of time and under budget. Work is ongoing to assess the accumulated data to inform the focus of our activity over the next two years, which will include drilling two wells. In Somaliland, we continue to work with stakeholders to progress to a positio...