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Genel Energy ( (GB:GENL) ) just unveiled an announcement.
Genel Energy has announced a trading and operations update ahead of its full-year 2024 results. The company has reported a strong balance sheet with significant cash generation from its producing fields in the Tawke PSC, despite domestic pricing challenges. In 2024, Genel achieved a net cash position of $131 million and free cash flow of $19 million, alongside a reduction in total debt. The company is focusing on growth strategies, including acquiring new assets and diversifying cash flow, while also addressing overdue receivables from the Kurdistan Regional Government. Additionally, Genel continues its African exploration efforts and plans for sustainable operations, including emissions reduction projects.
More about Genel Energy
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange. The company focuses on oil production within the Kurdistan Region of Iraq and has operations in Africa. It aims to geographically diversify its assets and improve cash generation through strategic acquisitions.
YTD Price Performance: -10.29%
Average Trading Volume: 8,389
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $217.6M
For an in-depth examination of GENL stock, go to TipRanks’ Stock Analysis page.
