UK's Capricorn Energy H1 revenue rises on higher oil prices

By Reuters News


Overview

  • UK oil and gas producer's H1 revenue from continuing operations rose to $100.5 mln on higher realized oil prices

  • H1 pretax profit from contops reached $56.2 mln, reversing a loss in the prior-year period

  • Company highlighted ratification of merged Egypt concession, supporting long-term investment


Outlook

  • Company expects FY26 production above mid-point of 18,000-22,000 boepd guidance range

  • Full-year net capital expenditure forecast toward upper end of $85-95 mln range

  • Operating costs expected to remain within $5-7 per boe guidance


Result Drivers

  • DEVELOPMENT DRILLING - Co said drilling 18 development wells and two near-field exploration wells unlocked new areas of thick reservoir and delivered production above expectations

  • HIGHER OIL PRICES - Co attributed revenue growth to a realized oil price of $89.5/bbl, up from $73.6/bbl in H1 2025

  • MERGED CONCESSION AGREEMENT - Ratification of consolidated Egypt concession extended asset life and supported long-term investment and development plans


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue From Contops

$100.5 mln

H1 Pretax Profit From Contops

$56.2 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Capricorn Energy PLC is GBp354.00, about 8.8% below its September 23 closing price of GBp388.00

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 4 three months ago


Reuters Recommended Reads

  • Sept 23 - UK's Pharos Energy H1 oil and gas sales rise 30%, net loss narrows

  • Sept 21 - UK's Borders & Southern H1 operating loss widens on higher costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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