Energean Reports Q1 2025 Operational Progress, Confirms Dividend and Growth Strategy

Steady as She Flows: Energean’s Q1 2025 Snapshot

Another quarter, another dose of Mediterranean momentum from Energean. Let’s unpack what’s bubbling beneath those gas-focused operations.

The Gas-Fuelled Engine Room

Production nudged up 2% to 145kboed (that’s thousand barrels of oil equivalent per day, for the uninitiated), with Israeli operations hitting 180kboed peaks during high demand. But the real story? That 84% gas weighting – a strategic cushion against oil price swings.

• 🇮🇱 Israel stability: Flat YoY production despite March shutdowns for second oil train works
• 🇮🇹 Italian uplift: Cassiopea volumes driving 9% production growth ex-Israel
• 🛢️ Katlan on track: $1.2bn project hitting milestones with H1 2027 first gas target intact

The Dividend Machine Keeps Humming

Cha-ching! Another 30 US cents/share dividend declared, maintaining the $650m returned to shareholders since 2022. This isn’t loose change – it’s underpinned by:

• ⚖️ $20bn in contracted Israeli gas revenues (yes, billion with a B)
• 💸 $6/boe operating costs (excluding royalties) – leaner than a Olympic sprinter
• 📈 7% EBITDAX growth to $278m despite revenue dip

Green Shoots in Black Gold

Energean’s not just drilling – they’re building bridges to the energy transition:

Prinos Carbon Storage Project

• 📝 15 MoUs signed for 6.12Mtpa storage capacity
• 🌍 First East Med carbon hub progressing through permits
• 🛠️ 2026 drilling campaign funded by EU recovery cash

CEO Mathios Rigas’ “diversified gas-focused” mantra isn’t just PR fluff – it’s becoming structural reality.