Energean on Wednesday increased the bottom end of production guidance range as third-quarter production jumped on rising oil and gas prices.
The company narrowed its full-year production guidance to 40,000-to-42,000 barrels of oil equivalent per day (boed) from 38-40k.
“We are on track to deliver record full year numbers, with annual revenues expected to be in excess of $450m and earnings before interest, tax, depreciation, amortisation and exploration expenses in excess of $190m,” the company said.
Revenues for the nine months to September 30 were $350m and EBITDAX was $141m, it added.
“Our flagship project Karish remains on track to deliver first gas in mid-2022 and we will spud the first well of our new Israel growth campaign in the first quarter (of) 2022,” the company said.
