• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 4 hours UK, Stay in EU, Says Tusk
  • 2 hours Socialists want to exorcise the O&G demon by 2030
  • 55 mins Nuclear Power Can Be Green – But At A Price
  • 13 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 2 hours Chevron to Boost Spend on Quick-Return Projects
  • 10 hours Venezuela continues to sink in misery
  • 4 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 4 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 1 hour Maritime Act of 2020 and pending carbon tax effects
  • 1 day WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 23 hours How Is Greenland Dealing With Climate Change?
  • 1 day Solid-State Batteries
  • 1 day Orphan Wells
  • 1 day Trump inclined to declare national emergency if talks continue to stall - Twitter hides this as "sensitive material"
James Stafford

James Stafford

James Stafford is the Editor of Oilprice.com

More Info

Genel Energy: A Junior Packing a Big Punch

I’ve been following Genel Energy of Turkey for a while now, not least because of my obsession with the potentially catastrophic but otherwise fantastic venue that is Iraqi Kurdistan. Every week I see this moving fast in two directions: towards potential all-out conflict with Baghdad and towards an oil and gas goldmine.

There are other juniors worth looking at in this venue, but it always comes back to Genel, whose CEO is—not incidentally—former BP exec Tony Hayward.

This week, Genel’s shares on the London stock exchange rose 7% on a significant new oil find in Iraqi Kurdistan. A test on Genel’s Chia Surkh-10 well has yielded flow rates up to 11,960 barrels per day, plus 15 million cubic feet of gas.

The company has a market cap of £1,816.76 million, closing on the London Stock Exchange at £850.00, with 213,736,679 shares in issue.

Genel is the largest producer in Iraqi Kurdistan, and its holdings are impressive. We’re talking about 7 production-sharing contracts with some nice geological diversity. Its largest producing fields in Kurdistan are Taq Taq and Tawke, which have an estimated gross proven and probable reserves of 1.4 billion barrels of oil and gross proven, probable and possible reserves of 1.9 billion barrels. By 2014, Genel is aiming for a production capacity of 140,000 net bopd.

That’s just existing capacity. It gets better. Juniors in Iraqi Kurdistan have had an amazing…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News