**Energean PLC Trading Statement & Operational Update Summary (January 27, 2026)**
Energean PLC released a trading statement and operational update, highlighting strong performance in 2025 and outlining its 2026 outlook. Key points include
**2025 Performance Highlights**
**Production** Averaged 154 kboed (thousand barrels of oil equivalent per day), with 113 kboed from Israel, at the upper end of guidance despite temporary suspension in June due to geopolitical issues.
**Financials** Sales revenue of $1.716 billion and adjusted EBITDAX of $1.112 billion, in line with 2024, despite lower oil prices and macroeconomic pressures.
**Contracts & Infrastructure** Signed over $4 billion in new long-term gas contracts in Israel and sanctioned the Nitzana export pipeline to Egypt.
**Cost Discipline** Maintained cost of operations at $6/boe and controlled cash G&A at $38 million.
**Capital Expenditure** Spent $575 million, slightly below guidance, with $50 million deferred to 2026.
**Balance Sheet** Resilient with no short-term maturities and $221 million returned to shareholders.
**2026 Outlook**
**Revenue Protection** Baseline revenue secured through long-term gas contracts in Israel and Egypt.
**Core Asset Optimization** Focus on Egypt merger concession, new Israeli gas contracts, and export pathways.
**Key Projects** Pivotal year for Katlan (Israel) and Irena (Croatia) projects, with first gas expected in H1 2027.
**Exploration** Multi-well campaign starting with East Bir El-Nus (Egypt) in Q2 2026 and Block 2 (Greece) later in the year.
**M&A:** Evaluating opportunitiesparticularly in West Africa.
**Guidance** Total production of 140-150 kboed, cash cost of production at $510-$550 million, and development expenditure of $740-$800 million.
**Cassiopea Asset Update**
Expected non-cash impairment of ~EUR 300 million due to lower-than-expected performance.
Arbitration proceedings initiated against the operator, claiming EUR 265 million for reimbursement and damages.
**CEO Comment**
Mathios Rigas highlighted a strong Q4 2025 with 12% year-on-year production growth and emphasized 2026 as a pivotal year for strategic growth and optimization.
**Contact Details**
Provided for capital marketsmediaand further inquiries.
**Forward-Looking Statements**
The announcement includes forward-looking statements subject to risks and uncertainties, with no obligation to update unless required by law.
This summary captures Energean’s resilient performance, strategic focus, and growth plans for 2026.