Genel Energy PLC

'We are like North American shale producers except we make money', says Genel Energy's Bill Higgs

That's the message that Bill Higgs, Genel Energy's chief executive is taking to the US in a roadshow for potential investors there.

We are massively outperforming US shale producers, he told Proactive's Andrew Scott and we need to tell people just how resilient and reliable the business is.

"We are profitable at US$20 a barrel and currently very cash generative."

Genel recently strengthened its executive management team following the acquisition of two of Chevron’s projects in Kurdistan, which has boosted the pre-production side of its Iraqi/Kurdish portfolio.

We slightly beat our production forecast last year and with a fair wind can do it again in 2019, he added.

Quick facts: Genel Energy PLC

Price: £2.01

Market: LSE
Market Cap: £552.93 m


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Genel Energy 'a business going places' with material growth opportunities

Bill Higgs, chief executive of Genel Energy PLC (LON:GENL), speaks to Proactive London soon after announcing the company's to pay a maiden dividend. He says free cash flow in 2018 came to $164 mln and as a result they've recommended a final dividend of 10¢ per share - a total distribution...

on 24/4/19

2 min read