Energean says production and profits rebounded following restarts

Energy Oil & Gas Written by: Jamie Ashcroft 07:47 Wed 09 Sep 2026 --> Edited by: Ian Lyall Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Energean PLC ( LSE:ENOG ) View Price & Profile Energean says production and profits rebounded following restarts Published: 07:47 09 Sep 2026 BST Energean PLC (LSE:ENOG) has reported a 45% rise in first-half profit after tax to $160 million and a 35% increase in free cash flow to $250 million, as production rebounded following a 41-day government-mandated shutdown in Israel. Revenue from production activities fell 8% to $743 million and adjusted EBITDAX slipped 5% to $478 million, reflecting lower sales volumes. Average production dropped 10% to 124,000 barrels of oil equivalent per day, though the eight-month average recovered to 135,000 boe/d and output reached levels above 180,000 boe/d during August. Energean reiterated full-year guidance of 130,000-140,000 boe/d. Net debt fell by $97 million during the second quarter to $3.23 billion at the end of June, while liquidity increased to $404 million. The company declared a second-quarter dividend of 10 US cents per share. Meanwhile, commissioning of a second oil train on the Energean Power FPSO increased liquids processing capacity by 72% to 31,000 barrels per day. Energean said its $1.2 billion Katlan development remains on budget and on schedule for first gas in H1 2027, after $267 million of expenditure during the half. It also agreed terms to merge three Egyptian concessions, committing an initial $150 million over four years, and signed a roughly $1.4 billion gas sales agreement with Sorek for supplies to a new Israeli power station from late 2029. Continue reading