Genesis Energy advised that the well intervention campaign at Kupe KS-9 has concluded, with work unable to produce sufficient flow to sustain operation of the well due to the reservoir pressure level and liquid inflows. As a result, maximum gas production is 47TJ/day. Further interventions may be considered in due course.

Lower than expected production is estimated to result in a $15 million to $20 million reduction in FY24 EBITDAF versus previous guidance of around $430 million. Normal FY25 financial planning is underway and will include an assessment of updated Kupe production levels and reserves.