Energean profit more than doubles as Greece production surges

Energean Oil & Gas said on Thursday its full-year adjusted core earnings more than doubled, driven by higher output at its Greece operation and lower production costs.

Energean, an oil and gas producer focused on the Mediterranean, said adjusted earnings before interest, taxes, depreciation, amortization and exploration expense (EBITDAX) rose to $52.4 million in the year ended Dec. 31 from $20.7 million a year earlier. [Reuters]