Central Petroleum Exceeds Production Targets and Increases Revenue in Q1 2025

Central Petroleum Limited ( (AU:CTP) ) has shared an announcement.

Central Petroleum Limited reported a successful quarter ending March 31, 2025, with the commissioning of two new gas wells at Mereenie exceeding production expectations and coming in under budget. Despite steady sales volumes, the company saw a 22% increase in sales revenue to $11.4 million due to higher average unit sales prices driven by new gas contracts. The lapse of a conditional gas sale agreement with Arafura has led Central and its joint venture to seek new customers for future gas production, which may impact future market positioning.

More about Central Petroleum Limited

Central Petroleum Limited operates in the energy sector, focusing on the exploration and production of oil and gas. The company is primarily engaged in developing gas fields in the Northern Territory, Australia, catering to both local and broader markets.

YTD Price Performance: 16.00%

Average Trading Volume: 599,631

Technical Sentiment Signal: Hold

Current Market Cap: A$43.22M

For detailed information about CTP stock, go to TipRanks’ Stock Analysis page.