Genesis predicts $460m FY2025 earnings after disappointing drilling programme

Daily gas generation from the Kupe field is declining. (Image: NZME)

Thu, 27 Jun 2024

Genesis Energy expects its earnings for the June 30, 2025, year to be around $460 million, based partly on declining Kupe gas production.Genesis said projected 2025 earnings before interest and taxation, depreciation and amortisation, and fair value adjustments (ebitdaf) were subject to hydrological conditions, gas and plant availability, and any unforeseeable events.The generator’s 2024 guidance remains unchanged. Daily gas production at the Kupe field is expected to be between 37 and 47 terajoules (TJ) a day after a faile...

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