Energean PLC(EERGF), an oil and gas company, on Wednesday reported a decline in revenue for the nine-month period, hurt by the planned shutdown for essential works for the second oil train development, the Ministry's order to suspend the production for security reasons, and lower Brent prices.
For the nine-month period to September 30, the company posted an adjusted EBITDAX of $828 million, less than $894 million in the same period last year. Sales revenue was $1.290 billion, down from $1.363 billion in the previous year.
Total production was 151Kboed, less than 156Kboed a year ago.
Looking ahead, for the full year, Energean has reaffirmed its production guidance of 145Kboed to 155Kboed.
For the full year, the company now expects total development and production capital expenditure of $580 million to $620 million against the earlier guidance of $480 million to $520 million.
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