Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Angus Energy ( (GB:ANGS) ) has provided an update.
In the fourth quarter of 2024, Angus Energy reported production of 517 million standard cubic feet of natural gas and 9,387 barrels of gas condensate from the Saltfleetby Field, alongside 2,130 barrels of crude oil from the Brockham Field. The company achieved gas sales of 5.73 million therms, generating estimated revenues of £6.12 million, marking a 19% increase over the previous quarter due to higher gas prices. Operational efficiency improved to 94% at Saltfleetby, counterbalancing natural well decline. Furthermore, the company is set to enhance its gas extraction capacity with a new booster compressor expected to be operational by late first quarter 2025. The company also plans to negotiate the timing of royalty interest settlement.
More about Angus Energy
Angus Energy plc is a UK AIM quoted independent oil and gas company, noted as the leading onshore gas producer in the UK. It holds a 100% interest in the Saltfleetby Gas Field and majority ownership in conventional oil production fields at Brockham and Lidsey, while also having a 25% interest in the Balcombe Licence. The company operates all fields in which it has an interest and has plans to grow onshore production and diversify internationally.
YTD Price Performance: 8.33%
Average Trading Volume: 6,188,708
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £14.37M
For an in-depth examination of ANGS stock, go to TipRanks’ Stock Analysis page.
