We have now updated our forecasts post the trading statement released earlier today. The main change is to 2015 where we have put through a cut in our Brent assumption from US$70/bbl to US$50/bbl. This level should be conservative as we expect oil prices to begin rising again during H2 but seems a prudent level for now given the decline over the last two months. We have also incorporated further discounts to the selling price of export oil sales to allow for SOMO’s levels now that respo
21 Jan 2015
Forecasts down but production growth protected
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Forecasts down but production growth protected
Genel Energy PLC (GENL:LON) | 85.0 0 0.0% | Mkt Cap: 237.4m
- Published:
21 Jan 2015 -
Author:
Daniel Slater, CFA -
Pages:
3
We have now updated our forecasts post the trading statement released earlier today. The main change is to 2015 where we have put through a cut in our Brent assumption from US$70/bbl to US$50/bbl. This level should be conservative as we expect oil prices to begin rising again during H2 but seems a prudent level for now given the decline over the last two months. We have also incorporated further discounts to the selling price of export oil sales to allow for SOMO’s levels now that respo