UK's Capricorn Energy H1 revenue rises on higher oil prices
UK's Capricorn Energy H1 revenue rises on higher oil prices
Overview
UK oil and gas producer's H1 revenue from continuing operations rose to $100.5 mln on higher realized oil prices
H1 pretax profit from contops reached $56.2 mln, reversing a loss in the prior-year period
Company highlighted ratification of merged Egypt concession, supporting long-term investment
Outlook
Company expects FY26 production above mid-point of 18,000-22,000 boepd guidance range
Full-year net capital expenditure forecast toward upper end of $85-95 mln range
Operating costs expected to remain within $5-7 per boe guidance
Result Drivers
DEVELOPMENT DRILLING - Co said drilling 18 development wells and two near-field exploration wells unlocked new areas of thick reservoir and delivered production above expectations
HIGHER OIL PRICES - Co attributed revenue growth to a realized oil price of $89.5/bbl, up from $73.6/bbl in H1 2025
MERGED CONCESSION AGREEMENT - Ratification of consolidated Egypt concession extended asset life and supported long-term investment and development plans
Company press release: ID:nRSX0593Wa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue From Contops |
| $100.5 mln |
|
H1 Pretax Profit From Contops |
| $56.2 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Capricorn Energy PLC is GBp354.00, about 8.8% below its September 23 closing price of GBp388.00
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 4 three months ago
Reuters Recommended Reads
Sept 23 - UK's Pharos Energy H1 oil and gas sales rise 30%, net loss narrows
Sept 21 - UK's Borders & Southern H1 operating loss widens on higher costs
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)