Energean

CEO Mathios Rigas was invited by Petroleum Economist to join other #oil & #gas industry (thought leaders) and give a view on 2025. Mathios's piece, entitled "#Geopolitics and gas: Volatility and the potential for #energysecurity and peace", considers how regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean - especially if motivated independent operators are permitted to engage with focus and tenacity. In 2025, we believe that gas will retain its vital role as a catalyst for and foundation of a more sustainable #energy dynamic. This is particularly true of the Mediterranean, where there is a need to both replace coal and fuel oil as well as ensure energy security greater projected increases in power generation demand. Gas will play a vital role - and that gas will be found, developed and produced not just by IOCs & NOCs but motivated independent upstream players whose interests are fully aligned with the sovereign states and their people. To read the article and the full outlook: https://lnkd.in/eEeKF-i3 Paddy Blewer Sotiris Chiotakis Eliana Fishler

On this year’s International Day of Persons with Disabilities (#IDPD), we are proud to continue our commitment to supporting communities where we operate through Corporate Social Responsibility initiatives.   In Kavala, where Energean began its operations 17 years ago, we donated an interactive floor featuring educational and recreational games to the 1st Special Primary School of Kavala and essential oil production equipment to the Special Vocational Education and Training Laboratory in Nea Karvali. These donations aim to enhance the learning environment and promote social inclusion, equality, and accessibility for all students, regardless of physical or mental challenges.   In Italy, we proudly supported the second FINP Paralympic swimming event, held in memory of Antonio Casolino, uniting the swimming community of Molise and Termoli at the San Salvo municipal swimming pool.   At Energean, promoting inclusion and equality is core to our ethos. While IDPD is a special occasion to highlight our efforts, our commitment to reducing #inequalities and supporting #sustainabledevelopment is ongoing throughout the year.   Read more here: https://lnkd.in/d5Ynzcii Paddy Blewer, Sotiris Chiotakis, Marcella Semenza Angelos Mastrantonis Marios Kalantzakis Artemis Barbounis Evangelos (Evan) Leovaris

Trading statement covered by Upstream today: "Energean reports 31% surge in output Output reached 135,000 boepd during the third quarter" https://lnkd.in/euBwRSfN

Good to see some positive coverage from The Wall Street Journal / Dow Jones: "Energean Books Earnings, Sales Jump on Strong Production" click below for full article https://lnkd.in/e3-fEtS7

In today’s Trading Statement & Operational Highlights, CEO Mathios Rigas highlighted Energean’s strong continued progress, with 61% year-on-year increase in adjusted EBIDTAX from our continuing operations, with continuing operations production growing 40% across the same period   Operationally, there have been multiple positive moves; the second oil train (Israel) lift was safely and successfully performed in October; the Katlan development is progressing on schedule, with first gas expected in H1 2027 and the Prinos carbon storage project (Greece) Front-End Engineering Design activities progressing successfully.   Financially there is considerable progress. Revenues for the period were $1,363 million, a 35% increase; adjusted EBITDAX for the period was $894 million, a 44% increase. AQ3 2024 dividend of 30 US$ cents/share declared today, scheduled to be paid on 30 December 2024 .   The strategic sale of the Egypt, Italy and Croatia portfolio to an entity controlled by Carlyle is targeted to complete by or just after year-end 2024, subject to customary regulatory and antitrust approvals. We expect to redeem, in whole or in part, the $450 million PLC Corporate Bond and/or to fund growth opportunities in accordance with the terms of its financing documents. We also continue to expect to have sufficient funds to facilitate a special dividend of up to $200 million. Paddy Blewer, Sotiris Chiotakis, Eliana Fishler, Kyrah Mckenzie, Maria Martin

We're excited to share that The Petroleum Economist recently featured an in-depth article highlighting our approach to the #energytransition. As an independent, gas-focused E&P company, we’re proud of the strides we've made in reducing emissions, developing key gas assets, and positioning ourselves as a leader in the Mediterranean. Our CEO, Mathios Rigas, shared, “we bring commitment, fast decision-making, and the ability to operate in challenging environments." This was evident in the successful execution of our Karish project, where we’ve maintained 99.5% uptime despite regional challenges. He continued, "Karish was not a project that was interesting enough for the majors... For us, it’s a sweet spot - not too big, not too small." In addition to our strong focus on #gas development, we are advancing our carbon storage solutions, like the Prinos project in Greece, which will help reduce CO2 emissions across the Mediterranean. With EU funding support and demand from industrial emitters, we're excited about the future of this initiative. We’re also proud to reward our shareholders, recently announcing a special dividend as part of our goal to return $1B by 2025. Energean is committed to creating value and delivering returns. Read the full article and discover how we are shaping the future of energy: https://lnkd.in/eDG74AuK Paddy Blewer Sotiris Chiotakis Eliana Fishler Nikolas R. Katerina Sardi

Javier Blas of Bloomberg’s recently concluded a thought-provoking analysis of Europe's #gas & #energy markets with a multi-billion-dollar question that many EU policymakers might prefer not to hear: "If Europe remains so short of gas that it would need a deal with Trump for more American #LNG, why isn’t Brussels pushing for incentives to boost domestic gas production, including lower taxes?" We have always advocated for the #energysecurity and #sustainabledevlopment value of domestic or regionally focused gas production. Repeated dunkelflauten and geopolitical volatility should be making European policy makers consider Javier's question a little more seriously and look to Israeli energy policy success. Read our more considered "Energean View" here: https://lnkd.in/gfrFGN9t Paddy Blewer Sotiris Chiotakis Eliana Fishler

We took an in-depth look at Saudi Arabia's energy transition pathway on the 𝑷𝒆𝒕𝒓𝒐𝒍𝒆𝒖𝒎 𝑬𝒄𝒐𝒏𝒐𝒎𝒊𝒔𝒕 website this week, with a three-part special from Nawaf Bin Awshan. Elsewhere, Dania Saadi interviewed Petronet LNG Limited CEO Akshay Kumar Singh about India's gas ambitions and spoke to Ugandan energy minister Ruth Nankabirwa( Ssentamu) about the country's Lake Albert project. We also published an interview, carried out at the recent ADIPEC Exhibition and Conference, with Energean CEO Mathios Rigas about the gas-focused independent's strategy for the transition. 🛢️For more on all these stories, see the PE website! #energy #oilandgas #upstream https://lnkd.in/eVTpPqz

Javier Blas of Bloomberg’s recently concluded a thought-provoking analysis of Europe's #gas & #energy markets with a multi-billion-dollar question that many EU policymakers might prefer not to hear: "If Europe remains so short of gas that it would need a deal with Trump for more American #LNG, why isn’t Brussels pushing for incentives to boost domestic gas production, including lower taxes?" We have always advocated for the #energysecurity and #sustainabledevlopment value of domestic or regionally focused gas production. Repeated dunkelflauten and geopolitical volatility should be making European policy makers consider Javier's question a little more seriously and look to Israeli energy policy success. Read our more considered "Energean View" here: https://lnkd.in/gfrFGN9t Paddy Blewer Sotiris Chiotakis Eliana Fishler

We're excited to share that The Petroleum Economist recently featured an in-depth article highlighting our approach to the #energytransition. As an independent, gas-focused E&P company, we’re proud of the strides we've made in reducing emissions, developing key gas assets, and positioning ourselves as a leader in the Mediterranean. Our CEO, Mathios Rigas, shared, “we bring commitment, fast decision-making, and the ability to operate in challenging environments." This was evident in the successful execution of our Karish project, where we’ve maintained 99.5% uptime despite regional challenges. He continued, "Karish was not a project that was interesting enough for the majors... For us, it’s a sweet spot - not too big, not too small." In addition to our strong focus on #gas development, we are advancing our carbon storage solutions, like the Prinos project in Greece, which will help reduce CO2 emissions across the Mediterranean. With EU funding support and demand from industrial emitters, we're excited about the future of this initiative. We’re also proud to reward our shareholders, recently announcing a special dividend as part of our goal to return $1B by 2025. Energean is committed to creating value and delivering returns. Read the full article and discover how we are shaping the future of energy: https://lnkd.in/eDG74AuK Paddy Blewer Sotiris Chiotakis Eliana Fishler Nikolas R. Katerina Sardi