Capricorn Energy remains on track to exceed the mid-point of its FY25 production guidance, with year-to-date output averaging nearly 20,000 boepd. The company also received a $50 million payment from the Egyptian General Petroleum Corporation, marking a key milestone in its Egypt operations and strengthening its financial position.
Capricorn Energy PLC has reaffirmed its robust operational performance for FY25, reporting that production is trending above the mid-point of its annual guidance. The company’s year-to-date output averaged 19,994 barrels of oil equivalent per day (boepd) as of August 31, 2025, with 42% comprising liquids. This positions Capricorn to potentially exceed its full-year target range of 17,000–21,000 boepd.
In parallel, Capricorn received a $50 million payment from the Egyptian General Petroleum Corporation (EGPC), a significant step toward improving receivables and unlocking long-term value from its Egypt portfolio.
Notable Updates:
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Production Performance: FY25 output is tracking above expectations, driven by disciplined operations and asset optimization.
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Egyptian Payment: The $50M inflow from EGPC enhances liquidity and reflects progress in contractual amendments.
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Portfolio Strength: Egypt remains a cornerstone of Capricorn’s strategy, with potential asset life extensions and reserve upgrades under review.
Major Takeaways:
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Financial Discipline: The company continues to prioritize cost control and capital efficiency.
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Strategic Focus: Capricorn is laying groundwork for deeper investment in Egypt, pending regulatory ratification.
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Shareholder Value: These developments support long-term growth and improved returns.
Capricorn’s dual momentum in production and receivables signals a strong close to FY25.
Sources: Capricorn Energy Interim Results, Joshua Thompson Investing