Energean PLC (STU:1YE)
€ 11.71 -0.13 (-1.1%) Market Cap: 2.19 Bil Enterprise Value: 4.44 Bil PE Ratio: 7.26 PB Ratio: 7.73 GF Score: 72/100
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Half Year 2024 Energean PLC Earnings Call Transcript

Sep 11, 2024 / 07:30AM GMT
Release Date Price: €10.46 (-3.15%)
Mathios Rigas
Energean PLC - Managing Director

Good morning, everyone, and thanks for joining our call today. I would like to start with some highlights and key points from our results for the first half of the year, which has been a fantastic six months for us. We are seeing record production and growth and monthly production at the moment is over 177,000, close to 180,000 barrels a day. I'm truly honored and very happy to be leading the organization that has grown so fast and delivered on what we promised.

First half production increased to 146,000 barrels a day, that is over 38% increase from the previous period. Quick update on Israel and our operations. Everybody knows we are in a challenging geopolitical situation with a war going on but this has had no effect on our operations so far.

The uptime of our FPSO remains at a remarkable very high level of over 99%. The machine is working exceptionally well. And demand in the summer was very strong as we expected. So we've been producing at maximum rates throughout the summer.

Of course, these great numbers turn into a very

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