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Israeli oil and gas firm Energean reported working interest production of 44,000 barrels of oil equivalent per day (boepd) in the first half (72% gas) ahead of full year guidance of 38,000 to 42,000 boepd (71% gas).
The company also confirmed it was on track to achieve first gas from its Karish project in the middle of 2022.
Revenue increased to $206 million from $2 million reflecting the acquisition of Edison E&P.
Unit cost of production was down 44% to $15.4 per barrel of oil equivalent with positive earnings before interest, tax, depreciation, amortisation and exploration expense (EBITDAX) of $75 million and operating cash flow of $53.1 million.
The company reported a loss after tax of $35.7 million and net debt of $1.69 billion.