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Financial performance improved despite disruption: First-half production fell 12% and revenue declined 8% following a 41-day Karish shutdown, but profit after tax rose 45% to $160 million and free cash flow increased about 35% to more than $350 million.
Katlan remains on track: Energean maintained its $800 million–$850 million 2026 development-spending guidance and expects first gas from the Athena and Zeus wells in the first half of 2027, with production exceeding 180,000 barrels of oil equivalent per day in August.
Growth and capital allocation remain priorities: A new Sorek gas agreement secured $1.4 billion in revenue, while Energean plans a $150 million Egyptian investment program and is evaluating acquisitions in the Mediterranean and West Africa without targeting higher leverage.
Energean (LON:ENOG) reported a stronger first half of 2026 despite a 41-day production shutdown at its Karish asset in Israel, with the company citing higher free cash flow, increased profit after tax and lower net debt while it continued investment in the Katlan development.