Genel Energy Strengthens Financials, Eyes Asset Expansion

Genel Energy (GB:GENL) has released an update.

Genel Energy reports a robust financial performance in the first nine months of 2024, driven by consistent domestic production from the Tawke PSC and strategic bond repurchases reducing its debt significantly. The company maintains a strong balance sheet with net cash of $125 million and is actively pursuing new asset acquisitions to diversify cash generation. Despite challenges with overdue receivables from the KRG, Genel Energy remains focused on profitability and expanding its portfolio.

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