Capricorn Energy expects higher production levels following Egypt expansion
The oil producer expects output to reach up to 22,000 barrels per day this year. Growth is driven by merged concessions in Egypt and potential new acquisitions.
Capricorn Energy announced today, February 23, 2026, that it expects its 2026 production to reach between 18,000 and 22,000 barrels of oil equivalent per day (boepd). The company, which is based in the United Kingdom 
GB, attributes this upward guidance directly to an agreement to merge eight concessions in Egypt 
EG into a single joint venture. This consolidation is being carried out in partnership with the Egyptian General Petroleum Corporation (EGPC) and Cheiron Oil and Gas.
GB, attributes this upward guidance directly to an agreement to merge eight concessions in Egypt EG into a single joint venture. This consolidation is being carried out in partnership with the Egyptian General Petroleum Corporation (EGPC) and Cheiron Oil and Gas.Management, including Randy Neely, stated that the new joint-venture structure and the consolidation of assets serve as the primary drivers for the revised production outlook. According to the company, this structural change directly underpins its future development plans for the region. The announcement follows a 2025 exit rate of 21,003 boepd, which was cited by management as a key benchmark for the company’s near-term production trajectory.
