Genel Energy (GENL)

Sector:

Energy Producers

112.00p
   
  • Change Today:
    -1.40p
  • 52 Week High: 196.60
  • 52 Week Low: 112.00
  • Currency: UK Pounds
  • Shares Issued: 279.40m
  • Volume: 47,558
  • Market Cap: £312.93m

Genel Energy to impair Sarta asset after drilling results

By Frank Prenesti

Date: Tuesday 13 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Genel Energy on Tuesday said it would have to impair its Sarta asset after drilling results fell short of expectations.


The company has a 30% stake in the Kurdistan field, while Chevron has 50%. Drilling at the Lower Jurassic level, target of the well's primary objectives, flowed only formation water.

Genel said it would assess the longer-term development and monetisation opportunities of these heavy oil resources, as part of the field's joint venture.

However, it warned that it would invest cash in the licence only if it had confidence that this would generate returns. The field averaged 4,000 barrels of oil per day in the quarter.

Reporting by Frank Prenesti for Sharecast.com

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Genel Energy Market Data

Currency UK Pounds
Share Price 112.00p
Change Today -1.40p
% Change -1.23 %
52 Week High 196.60
52 Week Low 112.00
Volume 47,558
Shares Issued 279.40m
Market Cap £312.93m

Genel Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.89% above the market average98.89% above the market average98.89% above the market average98.89% above the market average98.89% above the market average
87.65% above the sector average87.65% above the sector average87.65% above the sector average87.65% above the sector average87.65% above the sector average
Price Trend
51.7% below the market average51.7% below the market average51.7% below the market average51.7% below the market average51.7% below the market average
4.55% above the sector average4.55% above the sector average4.55% above the sector average4.55% above the sector average4.55% above the sector average
Income
97.90% above the market average97.90% above the market average97.90% above the market average97.90% above the market average97.90% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average
Growth
53.07% above the market average53.07% above the market average53.07% above the market average53.07% above the market average53.07% above the market average
19.23% below the sector average19.23% below the sector average19.23% below the sector average19.23% below the sector average19.23% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Genel Energy Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Sep-22 14-Apr-22
Paid 14-Oct-22 18-May-22
Amount 6.00¢ 12.00¢

Trades for 20-Mar-2023

Time Volume / Share Price
16:12 394 @ 112.00p
16:12 549 @ 112.00p
16:12 163 @ 112.00p
16:12 845 @ 112.00p
16:12 549 @ 112.00p

Genel Energy Key Personnel

Chair David McManus
CEO Paul Weir

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