Capricorn Energy PLC (GB:CNE) has released an update.
Capricorn Energy PLC has successfully maintained its guidance targets with strong production performance in Egypt and is on track for continued growth, supported by strategic restructuring and investment resumption. With steady cash collections from the Egyptian government, the company boasts a robust financial position, planning further shareholder returns, and value creation in the UK North Sea. The first half of 2024 saw significant capital returns, including a $50 million special dividend and a $21 million share buyback, with a clear focus on enhancing production and optimizing assets for future success.
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