Cadogan Energy Reports Record Production Amid Challenges

Cadogan Petroleum (GB:CAD) has released an update.

Cadogan Energy Solutions plc, despite the challenges posed by the Russian invasion in Ukraine, reported a strong first half of 2024, with oil production maintaining without shutdowns and increasing by 25% to an all-time high of 370 barrels per day. The company’s revenue soared by 105% due to higher production volumes and a 65% increase in the average realized oil price. Cadogan also continued its project to convert associated gas to electricity, expecting to complete the installation of a 0.85 MW gas-to-power generator by year-end.

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