Energean trims FY production guidance

(Sharecast News) - Gas explorer Energean on Thursday trimmed full-year production guidance citing actual performance in the year to date and the uncertainty around the unsuccessful sale of its $930m sale of portfolio in Egypt, Italy, and Croatia to Carlyle. The Israel-focused company said it now expected production of 155,000 - 165,000 barrels of oil equivalent per day (kboed) compared with indicative guidance of 160-175 kboed.

Production for the three months to March 30, Energean's first quarter, rose 2% to 145 kboed. Adjusted core earnings were up 7% to $278m.

Reporting by Frank Prenesti for Sharecast.com