Genel Energy plc - ADR (GEGYY)
OTC PINK OTC PINK Primary Summary
Genel Energy highlights resilient cash flows as it reports on 2024
Genel Energy PLC (LSE:GENL, OTC:GEGYY), as it released full-year results for 2024, told investors that it has seen ‘progress on the journey of building towards delivering resilient, diversified cash flows'. “Our shift from cash outflow in 2023 to cash generation in 2024 has been important, and in 2025 we expect the cash generated by the Tawke PSC to continue to cover our costs,” chief executive Paul Weir said.
Genel Energy focuses on cash flow and new opportunities
Genel Energy PLC (LSE:GENL, OTC:GEGYY) chief executive Paul Weir told investors that the oil producer continues to focus on optimising cash flows, evolving the capital structure and maturing opportunities to acquire new assets. “We maintain our discipline on spend and focus on profitability and both delivering, and building on, the significant value upside that is already in the business,” Weir said in Genel's third quarter update.
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Genel Energy plc - ADR Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Mr. John Paul Weir CEO | OTC PINK Exchange | US3687051090 ISIN |
| GB Country | 76 Employees | 5 Jun 2023 Last Dividend | - Last Split | - IPO Date |
Overview
Genel Energy plc is an independent oil and gas exploration and production company that has a diversified portfolio of assets. It operates mainly through its two distinct segments: Production and Pre-production. Founded in 2013 and with its headquarters in London, United Kingdom, Genel Energy has positioned itself as a significant player in the oil and gas industry. Through its strategic operations and interests in various oil-producing blocks, Genel Energy plc focuses on delivering sustainable value and growth.
Products and Services
Genel Energy plc offers a range of products and services related to the exploration and production of oil and gas, divided into two main segments:
- Production
This segment of Genel Energy plc is involved in the active production of oil and gas. Notably, it includes:
- A 25% working interest in the Tawke PSC, which is a crucial production-sharing contract for one of its primary assets.
- A 44% working interest in the Taq Taq PSC, demonstrating Genel Energy's significant stake in another key oil production block.
- Pre-production
This segment encompasses the company's future prospects and exploration activities, largely consisting of:
- A 50% working interest in the Odewayne block, located in Somaliland, which signifies the company’s strategic investment in exploring new territories.
- A 51% working interest in the SL10B13 block in Somaliland, further emphasizing Genel Energy’s focus on untapped resources in emerging markets.
- A 75% working interest in the Lagzira block in Morocco, highlighting the company’s intent to explore and potentially develop new oil and gas fields in North Africa.
Contact Information
