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Capricorn Energy PLC on Thursday saw it shares climb higher as it backed its full-year production guidance, amid a swing to an interim loss. Shares in energy producer, with assets in Egypt were up 11% at 223.00 pence on Thursday afternoon in London. Capricorn swung to a pretax loss for continuing operations of $7.5 million for the six months to June 30, from profit of $16.4 million a year prior. Driving this weaker bottom line was a 26% reduction in revenue to $59.7 million from $80.8 million, as production fell 22% to 20,3402 barrels of oil equivalent per day from 26,215 boepd on a net working interest basis. The average price per barrel of oil also fell, down 6.4% at $73.6 from $78.6. Other income fell 67% to $7.6 million from $23.0 million. Capricorn recorded an improved Egypt receivables position, reporting $172 million at period end. This represents an improvement from $184 million at the end of 2024. ‘Reducing the Group’s Egypt receivables position continues to be a key strategic priority,’ said the company,‘ adding, ’Since 30 June 2025, Capricorn has received $37 million of the minimum $90 million expected to be collected in H2. At 31 August 2025, overall accounts receivable had reduced to $160 million, with further improvement expected by year end.‘ Capricorn Energy said it remains on track to deliver on its full-year production guidance of between 17,000 and 21,000 boepd, with year-to-date production averaging 19,994 boepd to August 31. The company added that operating costs remain within its guidance range of $75 million to $85 million. ‘Capricorn delivered solid operational performance during H1 2025, with the company on track to achieve the mid-point of our annual production guidance,’ said Chief Executive Randy Neely. ‘We remain focused on growing cash flow through diversification and expanding our operations. Outside of our Egypt portfolio, the active evaluation of M&A opportunities in the UK North Sea and in the MENA region continues against a strict set of commercial and strategic criteria. We are well positioned for growth and look forward to updating the market on our efforts,’ continued Neely. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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