Finance
UK gas producer Energean cuts production outlook, seeks deals to bolster output
Published by Global Banking & Finance Review®
Posted on May 22, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 22, 2025
1 min readLast updated: January 23, 2026
Energean revises its production forecast and seeks M&A opportunities after a failed asset sale to Carlyle, focusing on the EMEA region.
(Reuters) -British gas producer Energean narrowed its annual production forecast on Thursday and said it was actively looking for merger and acquisition prospects after its failed deal to sell some assets to private equity fund Carlyle.
In March, Energean scrapped a deal to sell its Egypt, Italy and Croatia portfolio to Carlyle due to delays in obtaining regulatory approvals in Italy and Egypt.
The group now expects output of 155-165 thousand barrels of oil equivalent per day (kboed) for the year, from an earlier indicative guidance of 160-175 kboed.
"We are actively assessing M&A opportunities in addition to a number of organic growth options, with strict capital discipline, within the broader Europe, Middle East and Africa (EMEA) region," CEO Mathios Rigas said in a statement.
Energean said its year-end 2025 net debt was expected to be $2.8 billion-$3 billion. The company has a market capitalisation of $2.15 billion, according to LSEG data.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Savio D'Souza)
Energean now expects an output of 155-165 thousand barrels of oil equivalent per day for the year, down from an earlier forecast of 160-175 kboed.
Energean scrapped the deal to sell its Egypt, Italy, and Croatia portfolio due to delays in obtaining regulatory approvals in Italy and Egypt.
Energean expects its year-end 2025 net debt to be between $2.8 billion and $3 billion.
According to LSEG data, Energean has a market capitalisation of $2.15 billion.
Energean is actively assessing merger and acquisition opportunities within the broader Europe, Middle East, and Africa (EMEA) region.
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