Capricorn Energy Reports Strong Production Performance and Improved Financial Position
Capricorn’s working interest production averaged 20,175 barrels of oil equivalent per day in 2025, above the production guidance midpoint of 19,000 barrels of oil equivalent per day. The 2025 exit rate was 21,003 barrels of oil equivalent per day with recent strong production performance driven by new development wells drilled since July 2025 and a waterflood programme in the Badr El Din field area. Notably, gas performance since October has been enhanced by the drilling of BED15-31 which has produced strongly from the Lower Bahariya formation and offers the potential for follow-up wells that will be prioritised in early 2026.
Exploration drilling in 2025 produced encouraging results in the North Um Baraka and South East Horus licences where Capricorn is working with the Operator to evaluate future activity. On the financial front, the company received $43 million from the Egyptian General Petroleum Corporation in late December, bringing the total amount received by Capricorn since June 30, 2025 to $156 million, reducing its accounts receivable to the lowest position since 2022, at approximately $84 million. Capricorn has repaid its entire outstanding Senior Debt Facility with a voluntary payment of $18 million prior to the end of the year.
At December 31, 2025, the company’s net cash position stood at approximately $103 million. Last month, the Egyptian Cabinet approved the integrated concession agreement, representing the final step prior to parliamentary approval and formal ratification expected in Q1 2026.
Source: energy-pedia.com
