Edition:
United States

Genel Energy PLC (GENL.L)

GENL.L on London Stock Exchange

101.25GBp
11:06am EDT
Change (% chg)

2.75 (+2.79%)
Prev Close
98.50
Open
99.00
Day's High
102.50
Day's Low
97.50
Volume
536,874
Avg. Vol
1,558,110
52-wk High
107.50
52-wk Low
54.50

Latest Key Developments (Source: Significant Developments)

DNO received $40.66 mln Tawke funds
Thursday, 6 Jul 2017 02:00am EDT 

July 6 (Reuters) - Dno Asa :Reports payment for tawke deliveries.Today reported receipt of $40.66 million from kurdistan regional government as payment towards april 2017 crude oil deliveries to export market from tawke license.Funds, to be shared pro-rata by dno and partner genel energy plc, include $34.10 million towards monthly deliveries and $6.56 million towards recovery of outstanding receivables.  Full Article

Genel appoints ex-Shell Africa executive as CFO
Wednesday, 28 Jun 2017 02:17am EDT 

June 28 (Reuters) - Genel Energy Plc :Genel energy plc - appointment of chief financial officer.Esa Ikaheimonen has been appointed as chief financial officer.He will be based in London and will join company on 3 July 2017.  Full Article

Genel Energy says Tawke field partners receives payment from KRG
Thursday, 15 Jun 2017 02:00am EDT 

June 15 (Reuters) - Genel Energy Plc ::Tawke field partners received payment of $41.26 million from Kurdistan Regional Government as payment towards march 2017 crude oil deliveries.Kurdistan Government payments to Tawke field partners will be shared pro-rata by DNO and Genel.  Full Article

DNO received payment for March Tawke oil deliveries
Thursday, 15 Jun 2017 02:00am EDT 

June 15 (Reuters) - Dno Asa :Reports payment for deliveries from its Tawke oilfield in Kurdish region of Iraq.Today reported receipt of usd 41.26 million from kurdistan regional government as payment towards march 2017 crude oil deliveries to export market from tawke field.The funds, to be shared pro-rata by dno and partner genel energy plc, include usd 34.60 million toward monthly deliveries and usd 6.65 million toward recovery of outstanding receivables.Tawke production in march averaged 108,853 barrels of oil per day (bopd), of which 108,513 bopd was delivered for export through turkey.  Full Article

Genel recieves $8.38 mln from Kurdistan govt for March oil sales at Taq Taq field
Monday, 12 Jun 2017 02:00am EDT 

June 12 (Reuters) - Genel Energy Plc :‍Taq Taq field partners received gross payment of $15.24 million from Kurdistan regional government for oil sales during March 2017​.‍Genel's net share of payment from Kurdistan government on Taq Taq is $8.38 million​.Gross oil sales from taq taq field in march 2017 averaged 20,417 bopd, including both exports and Bazian refinery deliveries​.  Full Article

Genel Energy says Taq Taq production continued to fall in 2017
Tuesday, 6 Jun 2017 02:00am EDT 

June 6 (Reuters) - Genel Energy Plc ::Tawke field continues to perform in line with expectations, and drilling success at Peshkabir is expected to add to production from end of 2017.While production at Taq Taq has continued to fall in 2017, rate of decline has recently slowed.It remains too early to extrapolate long-term conclusions from this trend at Taq Taq.In year to 31 May 2017, net production to Genel has averaged 37,700 bopd.Production from Tawke in May 2017 averaged 108,000 bopd, and for Taq Taq 17,000 bopd.Additional investment at Taq Taq will be targeted and appropriated in order to generate free cash flow.Now received oil export payments for 18 consecutive months since September 2015.Payments resulted in Genel generating free cash flow in 2016.Payments have continued into 2017; in year to date, Kurdistan regional government has made gross payments of $316 million of which $122 million is net to Genel.Following buy back, externally held debt now stands at $421.8 million.Unrestricted cash balances at 31 May 2017 are estimated at $232 million, with IFRS net debt at $171 million.There have recently been a number of changes at board and management level, and board composition is under review.  Full Article

Genel says Nathaniel Rothschild and Simon Lockett resigned from board
Monday, 5 Jun 2017 02:00am EDT 

June 5 (Reuters) - Genel Energy Plc ::Nathaniel Rothschild and Simon Lockett have resigned from board.Nathaniel Rothschild and Simon Lockett will no longer stand for re-election at annual general meeting of Genel Energy on 6 June 2017.  Full Article

Genel Energy says CFO Ben Monaghan to leave company on June 30
Friday, 2 Jun 2017 08:00am EDT 

June 2 (Reuters) - Genel Energy Plc ::Ben Monaghan, chief financial officer, has advised board of his intention to leave company on 30 June 2017.Search for a suitable replacement is ongoing and an announcement will be made in due course.  Full Article

Genel Energy says Taq Taq field gross production for May at 16,917 bopd
Friday, 2 Jun 2017 04:00am EDT 

June 2 (Reuters) - Genel Energy Plc ::Says Taq Taq field gross production for May at 16,917 bopd.  Full Article

Genel names Stephen Whyte as chairman designate; Tony Hayward to retire
Monday, 24 Apr 2017 02:00am EDT 

April 24 (Reuters) - Genel Energy Plc ::Stephen Whyte has been appointed as an independent non-executive director and chairman designate with immediate effect..Tony Hayward will retire as a director and chairman of company at conclusion of 2017 AGM.  Full Article

Genel appoints ex-Shell executive as CFO in leadership reshuffle

LONDON Iraqi Kurdistan-focused oil producer Genel Energy has appointed an outsider as chief financial officer, diversifying a leadership team that has been dominated by Turkish executives since the departure of its two co-founders.