Kistos PLC (GB:KIST) has released an update.
Kistos PLC has announced that despite the delay in the Balder X project’s production start to the second quarter of 2025, the company’s financial position remains protected due to a $45 million Hybrid Bond structured to mitigate such delays. The delay has led to a revised CAPEX increase of approximately $40 million net to Kistos pre-tax, but the company expects the non-payment of the full bond to offset this increase significantly. Balder X is set to extend production in the Balder Area beyond 2045, with significant reserves and peak output anticipated, coupled with future growth opportunities through the Jotun FPSO.
For further insights into GB:KIST stock, check out TipRanks’ Stock Analysis page.
