$ENOG.L

4 stories mentioning ENOG.L

Every FINWIRES story that references ENOG.L, newest first.

Energean's Planned Angola Block Acquisition Faces Pre-emption Rights Setback

Energean (ENOG.L) said Wednesday that Etu Energias sought to exercise its pre-emption rights over Chevron's (CHV.F) interests in Block 14 and 14K in offshore Angola, which the natural gas-focused exploration and production company is planning to acquire.Energean added that its acquisition deal with Chevron remains in effect until the relevant pre-emption right is validly exercised and executed, and until a new sale and purchase agreement between Chevron and Etu Energias has been completed.The company also noted that the Angola-based Etu Energias, which is one of Chevron's joint venture partners, must satisfy the same buyer conditions, including proving that it is a deepwater oil and gas operator with at least one existing producing asset at water depths of over 300 meters.In March, Energean agreed to purchase Chevron's 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K for a base consideration of $260 million, plus up to $250 million in contingent payments.

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Equities26d ago

Berenberg Adjusts Energean Forecasts After Q1 Trading Update, Restart of Israeli Gas Field

Berenberg adjusted its 2026 forecasts for Energean (ENOG.L) following the company's first-quarter trading update, which included guidance from reinstated production in Israel, a reduced first-quarter dividend, and higher capital expenditure projections.In the three months ended March 31, the natural gas-focused exploration and production company reported a 21% year-over-year decline in production, while revenue plummeted 30% to $288 million, mainly driven by the 41-day shutdown of operations in Israel."Energean has reinstated production guidance in Israel at 98-104kboe/d, down 9% at the mid-point. Production guidance in the rest of the portfolio is unchanged. Operating cost guidance is largely unchanged but total capex is now expected to be $800m-860m, up by 8% at the mid-point versus the previous range," analysts said in a Wednesday note. "Overall, our operating forecasts are slightly improved given our previous caution on the Karish gas field shutdown (offshore Israel), and receivables recovery in Egypt means our net debt forecast is largely unchanged for the year despite higher capex."As such, the research firm raised its full-year 2026 production and EBITDA estimates by 5% and 3%, respectively. Meanwhile, it trimmed its dividend projections following the company's lower-than-expected first-quarter dividend of $0.1 per share, adding that it expects a return to $0.3 per share from the second quarter."We leave our 765p price target and Hold rating unchanged with a sustained reduction in net debt needed to increase our confidence in delivering NAV upside and increased shareholder returns," Berenberg added.

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Equities26d ago

Energean Posts Lower Q1 Revenue

Energean (ENOG.L) said Wednesday that revenue declined year over year in the first quarter of 2026.The hydrocarbon exploration and production company's total revenue and other income from production activities for the three months ended March 31 was $288 million, compared with $407 million previously.Energean noted that the first-quarter figures reflect 41 days of production shutdown in Israel.The company's board declared a first-quarter dividend of $0.10 per share, compared with $0.30 per share paid in the year-ago period.

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Equities63d ago

Energean's Power FPSO Unit Now Fully Operational

Energean (ENOG.L) said Monday that its Energean power floating production, storage, and offloading unit is now fully operational, restoring production to regular levels.The UK-listed gas and oil exploration and production company noted that production was restored to regular levels within 48 hours of the UK's Ministry of Energy and Infrastructure issuing a notification.Meanwhile, the natural gas deliveries to customers resumed in line with contractual requirements.

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