{"id":542486,"date":"2025-12-11T00:00:00","date_gmt":"2025-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/11\/dana-gas-confirms-new-egyptian-onshore-gas-find\/"},"modified":"2025-12-11T00:00:00","modified_gmt":"2025-12-11T00:00:00","slug":"dana-gas-confirms-new-egyptian-onshore-gas-find","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/11\/dana-gas-confirms-new-egyptian-onshore-gas-find\/","title":{"rendered":"Dana Gas confirms new Egyptian onshore gas find"},"content":{"rendered":"

Good afternoon, friends, and congratulations on another successful workweek<\/strong>. The news cycle is seeing a delayed start, with the press heating up just as we\u2019re about to turn our morning alarms off.<\/p>\n

** A QUICK PROGRAMMING NOTE-<\/strong> EnterpriseAM Egypt will be taking a break from your inboxes on Sunday-Tuesday next week in preparation for something special to reveal to you all \u2014 and we\u2019re confident you\u2019ll think it was worth the disruption. We\u2019ll be back in your inboxes on Wednesday, 17 December.<\/p>\n

\n

THE BIG STORY TODAY-<\/p>\n

? Dana hits gas in Egypt: <\/strong>Sharjah\u2019s Dana Gas confirmed a new onshore Nile Delta gas find after drilling the North El-Basant 1 exploratory well in Egypt, with initial results pointing to 15-25 bcf of recoverable reserves and expected output of more than 8 mmcf \/ d once tied to the Egyptian grid, according to a press release (pdf)<\/a>. <\/p>\n

The well is the fourth in a series of 11 appraisal and exploration wells planned under <\/strong>the two-year <\/strong>USD 100 mn investment program<\/a><\/strong> \u2014 aiming to add 80 bcf in recoverable reserves \u2014 which earlier delivered three completed wells adding 10 mmcf \/ d. Dana plans to spud the program\u2019s fifth well in the first week of January, the company said. <\/p>\n

The company also recompleted three additional wells outside the current program<\/strong>, bringing another 9 mmcf \/ d online. Combined drilling and recompletion work is adding some 30 mmcf \/ d of new production, Dana Gas added.<\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

? <\/strong>The<\/strong> US is making headlines for seizing a large oil tanker carrying Venezuelan <\/strong>crude off the country\u2019s coast yesterday<\/strong>, marking the first known interception of a Venezuelan cargo vessel \u2014 which was bound for Cuba \u2014 since US President Donald Trump ordered a massive military buildup in the region.<\/p>\n

The vessel was carrying approximately 1.8 mn barrels of Venezuelan heavy crude <\/strong>when the US Coast Guard, US Navy, and FBI executed the seizure<\/strong> based on a federal warrant accusing the ship of involvement in smuggling Iranian oil rather than its connection to the Venezuelan government. However, the timing escalates Trump\u2019s confrontation with Venezuelan President Nicol\u00e1s Maduro, who the US administration accuses of running a narcoterrorist operation. <\/p>\n

When asked about the ship\u2019s oil cargo, Trump said \u201cWe keep it, I guess.\u201d<\/strong> Venezuela condemned the action as \u201cblatant theft\u201d and \u201can act of international piracy,\u201d arguing that the true motivation is control of the country\u2019s oil resources. Iran\u2019s embassy in Caracas called it a grave violation of international law.<\/p>\n

This is just one of the many recent US assaults on Venezuelan vessels, the previous <\/strong>being strikes that have killed over 80 people since September.<\/strong> The US administration has marked the ships as suspected drug vessels, without presenting evidence. The attacks have drawn legal scrutiny and accusations from Democrats that they may constitute war crimes, particularly after reports of a followup strike that killed survivors. (Reuters<\/a> | CNN<\/a> | NYT<\/a>)<\/p>\n

\n

\n

IN<\/strong> BUSINESS NEWS-<\/strong> Oracle shares plunged on weak results and elevated spending <\/strong>plans<\/strong>, tumbling more than 10% in premarket trading today, dragging down AI-related stocks and reviving concerns about massive technology spending on AI infrastructure. The cloud computing giant reported quarterly revenue of USD 16.1 bn, falling short of the USD 16.2 bn analysts expected. More significantly, Oracle raised its capital expenditure outlook for 2026 by USD 15 bn to a total of USD 50 bn, alarming investors already worried about returns on heavy AI investments.<\/p>\n

Oracle has become a focal point for investor concerns about AI spending<\/strong> since raising USD 18 bn through a massive bond sale in September and securing a USD 300 bn infrastructure deal with OpenAI. The company plans to raise between USD 20-30 bn in debt annually for the next three years to fund data center construction, according to analyst estimates.<\/p>\n

The selloff rippled through the technology sector, seeing Nvidia decline 1.5% in <\/strong>premarket trading, while Microsoft, Micron, and AMD also retreated.<\/strong> The broader market felt the impact, with Nasdaq futures initially dropping 1.6% before recovering some ground. Despite recent losses, Oracle\u2019s stock remains up 34% YTD, though investors have grown increasingly cautious about whether AI investments will generate adequate returns. (CNBC<\/a> | Bloomberg<\/a>)<\/p>\n

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\u2600\ufe0f <\/strong>TOMORROW\u2019S WEATHER- <\/strong>We\u2019re in for mostly cloudy weather tomorrow, with mild daytime temperatures peaking at 22\u00b0C, before cooling down to 14\u00b0C at night, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, friends, and congratulations on another successful workweek. The news cycle is seeing a delayed start, with the press heating up just as we\u2019re about to turn our morning alarms off. ** A QUICK PROGRAMMING NOTE- EnterpriseAM Egypt will be taking a break from your inboxes on Sunday-Tuesday next week in preparation for something […]<\/p>\n","protected":false},"author":1,"featured_media":542487,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[110,93,633,91,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-dana-gas","tag-energy","tag-enterprisepm","tag-oil-and-gas","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"cf1fbbf7-08af-4236-8a07-ab4b2e8ead1b","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/10\/2645.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dana Gas confirms new Egyptian onshore gas find","related_issue":[542484],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.abd41d50-79f0-43d9-8f73-ca9e490f55a1.mp3"},"yoast_head":"\nDana Gas confirms new Egyptian onshore gas find - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/11\/dana-gas-confirms-new-egyptian-onshore-gas-find\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dana Gas confirms new Egyptian onshore gas find\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and congratulations on another successful workweek. 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playing out in its favor: Sharjah-based gas producer Dana Gas \u2014 which has significant exposure to Egypt \u2014 decided this week to retract its June decision to restructure USD 700 mn in sukuks it borrowed from investors, preferring its odds pursuing the case\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570662,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/09\/dana-gas-confirms-its-review-of-potential-egypt-asset-sale-is-behind-schedule\/","url_meta":{"origin":542486,"position":1},"title":"Dana Gas confirms its review of potential Egypt asset sale is behind schedule","author":"enterpriseam admin","date":"9 April 2020","format":false,"excerpt":"M&A WATCH- Dana Gas confirms its review of potential Egypt asset sale is behind schedule: Dana Gas is still moving head with its review of whether it will sell its onshore and offshore Egypt assets, but the process has been slowed down by the covid-19 pandemic and is currently running\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566855,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/dana-gas-wins-egypt-arbitration-case\/","url_meta":{"origin":542486,"position":2},"title":"Dana Gas wins Egypt arbitration case","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"Dana Gas won an arbitration case brought by IPR Wastani Petroleum claiming that the UAE-headquartered company was in the wrong when it called off the sale of many of its Egypt assets to IPR. Dana disclosed the outcome of the arbitration case, which IPR filed back in April, in a\u2026","rel":"","context":"In "CATCH UP QUICK"","block_context":{"text":"CATCH UP QUICK","link":"https:\/\/enterpriseam.com\/egypt\/category\/catch-up-quick\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565756,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/ipr-wastani-taking-dana-gas-to-arbitration\/","url_meta":{"origin":542486,"position":3},"title":"IPR Wastani taking Dana Gas to arbitration","author":"enterpriseam admin","date":"28 April 2021","format":false,"excerpt":"IPR Wastani seeks arbitration for cancelled sale of Dana Gas\u2019 Egypt assets: IPR Wastani Petroleum is filing for arbitration after the UAE\u2019s Dana Gas called off the sale of its oil and gas assets in Egypt to the Texas-based IPR Energy Group member, Dana Gas said in a statement cited\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560049,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/14\/dana-gas-says-egypt-asset-sale-didnt-do-its-earnings-any-favors\/","url_meta":{"origin":542486,"position":4},"title":"Dana Gas says Egypt asset sale didn\u2019t do its earnings any favors","author":"enterpriseam admin","date":"14 February 2021","format":false,"excerpt":"Dana Gas points to Egypt asset sale for its 2020 losses: Abu Dhabi-listed energy producer Dana Gas reported a net loss of USD 376 mn in 2020, compared to a net profit of USD 157 mn the year before, according to an earnings release (pdf). The Emirati firm attributed the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569108,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/dana-gas-to-make-decision-on-egypt-asset-sale-by-end-of-march\/","url_meta":{"origin":542486,"position":5},"title":"Dana Gas to make decision on Egypt asset sale by end of March","author":"enterpriseam admin","date":"13 February 2020","format":false,"excerpt":"M&A WATCH- Dana Gas to make decision on Egypt asset sale by end of March: Dana Gas received \u201cnumerous\u201d bids for its Egypt assets in 2H2019 and is currently finalizing the technical and commercial evaluation ahead of making a final decision by the end of March, the company said in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/184.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542486"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542486\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/542484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542487"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542486"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542486"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}