Brief: Genel Energy Says Production Guidance For 2023 No Longer Valid

Genel Energy

11/05/2023 07:43

May 11 (Reuters) - Genel Energy PLC  GENL.L :
    * GENEL ENERGY PLC - DELAYS IN PAYMENTS AND SUSPENSION OF
EXPORTS
HAVE RESULTED IN SIGNIFICANT CASH GENERATION BEING DEFERRED
    * GENEL ENERGY PLC - SCALING BACK PLANNED ACTIVITY
ACCORDINGLY
    * GENEL ENERGY PLC - CONTINUE TO REDUCE COSTS SO THAT SIZE
AND
SHAPE OF ORGANISATION MATCHES NEEDS OF BUSINESS
    * GENEL ENERGY PLC - ZERO LOST TIME INCIDENTS IN 2023
    * GENEL ENERGY PLC - CAPITAL EXPENDITURE OF $24 MILLION IN
Q1 2023
    * GENEL ENERGY PLC - GENEL'S PRODUCTION GUIDANCE FOR 2023 OF
27-29,000 BOPD IS NO LONGER VALID
    * GENEL ENERGY PLC - NOW EXPECTS 2023 CAPITAL EXPENDITURE TO
BE
BELOW $100 MILLION (PREVIOUS GUIDANCE $100-125 MILLION)

Source text for Eikon:  ID:nEQc5XQQca 
Further company coverage:  GENL.L 

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