19th Jan 2021 21:47
Genel Energy PLC - exploration and production company - Says net production averaged 31,980 barrels of oil per day in 2020, with net production in the final quarter averaging 31,510 barrels of oil daily, slightly lower than 32,210 barrels of oil daily in the third quarter of 2020. Looking forward, Genel says production in 2021 is expected to be slightly above the 2020's, with the potential for a higher exit rate and further growth in 2022. "Executing our strategy in 2020 through delivering low-cost production, paying a material dividend, and retaining our financial strength in order to invest in growth has helped lay the foundations for year on year production increases in this year and the years ahead," says Chief Executive Bill Higgs.
Current stock price: 165.00 pence, down 8.3% on Tuesday
Year-to-date change: up 12%
By Evelina Grecenko; [email protected]
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