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Energean's H1 profit rises 45% as production recovers after Israeli shutdown

Company Fundamentals
09 Sep 2026
Proactive Investors
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Bullish
Energean's H1 profit rises 45% as production recovers after Israeli shutdown

Energean PLC reported a 45% increase in first-half profit after tax to $160 million and a 35% rise in free cash flow to $250 million, driven by production recovery after a 41-day government shutdown in Israel. Despite an 8% drop in revenue and a 5% fall in adjusted EBITDAX due to lower sales volumes, production rebounded to over 180,000 barrels of oil equivalent per day in August. The company maintained its full-year production guidance of 130,000-140,000 boe/d, reduced net debt by $97 million, and increased liquidity to $404 million. Key projects include the on-schedule $1.2 billion Katlan development and a $1.4 billion gas sales agreement for a new Israeli power station starting in late 2029.

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