SNG: Capricorn Energy logs $36mln profit from Egypt business in H1 2026

By Zawya

By Staff Writer

Arab Finance: Capricorn Energy’s profit from its Egypt business operating segment rose to $36 million in the first half (H1) of 2026, up from $9 million in H1 2025, according to a press release.

The company generated total revenue of $100 million from Egypt at the end of June 2026. Liquids sales contributed $8 million, based on net entitlement sales of 891,500 barrels at an average price of $89.5 per barrel.

Gas revenue reached $20 million from sales volumes of 5.98 million standard cubic feet per day (mscf) at a contracted rate of $3.4 per mscf.

Randy Neely, Chief Executive at Capricorn Energy, commented: “Capricorn had a robust first half as production remained resilient, development activity progressed in line with budget and pricing supported healthy margins during the period.”

“The ratification of the consolidated concession agreement in Egypt creates an improved framework for long-term investment, extends the life of key producing assets and supports our resource conversion funnel. Working closely with our partner and operator, Cheiron, we have progressed development plans designed to grow production and unlock value.”

In July, London-based Genel Energy rolled out plans to expand in the Egyptian market through acquiring Capricorn Energy in a $360 million all-cash deal.

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