Genel Energy (GENL)

Sector:

Energy Producers

83.50p
   
  • Change Today:
    -0.50p
  • 52 Week High: 119.60p
  • 52 Week Low: 64.90p
  • Currency: UK Pounds
  • Shares Issued: 279.40m
  • Volume: 151,921
  • Market Cap: £233.30m

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 83.50p
Change Today -0.50p
% Change -0.60 %
52 Week High 119.60p
52 Week Low 64.90p
Volume 151,921
Shares Issued 279.40m
Market Cap £233.30m

Genel Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.16% above the market average41.16% above the market average41.16% above the market average41.16% above the market average41.16% above the market average
7.89% below the sector average7.89% below the sector average7.89% below the sector average7.89% below the sector average7.89% below the sector average
Price Trend
55.05% below the market average55.05% below the market average55.05% below the market average55.05% below the market average55.05% below the market average
1.23% above the sector average1.23% above the sector average1.23% above the sector average1.23% above the sector average1.23% above the sector average
Income
0.75% above the market average0.75% above the market average0.75% above the market average0.75% above the market average0.75% above the market average
Sector averageSector averageSector averageSector averageSector average
Growth
20.85% below the market average20.85% below the market average20.85% below the market average20.85% below the market average20.85% below the market average
58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 1
Strong Sell 0
Total 3
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
  Final Interim
Ex-Div 20-Apr-23 15-Sep-22
Paid 19-May-23 14-Oct-22
Amount 12.00¢ 6.00¢

Trades for 25-Apr-2024

Time Volume / Share Price
14:29 431 @ 83.50p
14:29 23 @ 83.50p
14:29 5,000 @ 83.76p
14:20 96 @ 83.50p
14:02 470 @ 83.50p

Genel Energy Key Personnel

Chair David McManus
CEO Paul Weir

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