Capricorn Energy Boosts Output Expectations After Egyptian Gains

Capricorn Energy has reported resilient production from its Egyptian portfolio in the first half of 2026, driven by successful drilling and a revised contractual framework. The company generated $100 million in revenue from Egypt during the six months through June, with an average oil price of $89.50 per barrel and a gas price of $3.40 per thousand cubic feet.

The London-listed producer achieved working-interest production averaging 19,337 barrels of oil equivalent per day (boepd), slightly above the midpoint of its full-year guidance range of 18,000 to 22,000 boepd. Liquids accounted for 46% of production.

Capricorn and its operating partner Cheiron drilled 18 development wells and two near-field exploration wells during the first half. The program identified additional sections of the Abu Roash Gharadig reservoir, creating further drilling opportunities and delivering higher-than-expected production.