Energean Divests Assets for Enhanced Focus and Growth

Energean (GB:ENOG) has released an update.

Energean plc has announced the strategic sale of its Egyptian, Italian, and Croatian asset portfolio to Carlyle-controlled entity for up to $945 million, a significant boost from its original acquisition value. The deal includes upfront cash, working capital adjustments, a vendor loan, and additional contingent payments based on future production and commodity prices. This strategic move will enable Energean to focus on its core gas-weighted assets, streamline operations, and advance its Net Zero commitments, while also planning a generous shareholder dividend post-completion.

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