Genel Energy ( (GB:GENL) ) has provided an update.
Genel Energy reported a shift from cash outflow in 2023 to cash generation in 2024, driven by increased production and strategic cost management. The company has reduced its debt significantly and is focusing on maintaining a strong balance sheet while expanding its asset base in Oman and other regions. Despite challenges in the Kurdistan Region of Iraq, including unresolved payments from the Kurdistan Regional Government, Genel is committed to ensuring contract compliance and exploring new growth opportunities. The company’s strategic diversification into Oman marks a significant step in its growth journey, aiming to enhance cash generation and business resilience.
More about Genel Energy
Genel Energy PLC is an oil and gas exploration and production company with a focus on the Kurdistan Region of Iraq and recently expanded operations into the Sultanate of Oman. The company aims to deliver resilient and diversified cash flows through its core business and new asset acquisitions.
YTD Price Performance: -5.57%
Average Trading Volume: 3,311
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $217.9M
Find detailed analytics on GENL stock on TipRanks’ Stock Analysis page.