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London, 19 April 2021 - Energean plc (LSE: ENOG, TASE: א) is pleased to announce its audited full-year results for the year ended 31 December 2020 ( FY 2020 ).
2020 was clearly a challenging year, but nevertheless a successful one for Energean. We completed our acquisition of Edison E&P, agreed to acquire the minority interest in Energean Israel Limited and made solid progress on our flagship Karish gas development.
Strong momentum has continued into 2021; we have sanctioned the high-return Karish North and NEA/NI projects and successfully completed a $2.5 billion bond issuance at extremely attractive rates, significantly extending the average maturity-profile of our debt.
Our focus in Israel is delivery of first gas from Karish and commencing our 1 billion boe growth programme. Together, these actions will significantly advance us towards our target of paying a meaningful ....
19 April 2021 | 07:33am StockMarketWire.com - Gas company Energean said it would target its maiden dividend in 2022, even after reporting wider annual losses as revenue fell on lower energy prices. For the year ended 31 December, pre-tax losses widened from $113.6 million a year earlier to $404.3 million as revenue fell 63% to $28.0 million. Working interest production averaged 3,600 boepd in 2020, up from 3,300 boepd, with the Prinos oil field, offshore Greece, accounting for approximately 50% of total output. The company said it continues to work towards first gas from Karish in 1Q 2022, with an offtake agreement for Karish liquids expected in the second half of the year. ....
Energean provides trading statement and operational update 21 Jan 2021 Energean has provided an update on recent operations and the Group s trading performance in the 12-months to 31 December 2020 together with guidance for 2021. This information is unaudited and subject to further review. Mathios Rigas, Chief Executive of Energean commented: 2020 was clearly a challenging year but nevertheless a successful one for Energean. We completed the first phase of our transition to become the leading independent gas-producer in the Mediterranean with the completion of the acquisition of Edison E&P. The second phase of that transformation will be completed once Karish, our multi-tcf flagship gas project offshore Israel, commences production enabling us to ....