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An announcement from Cooper Energy Limited ( (AU:AEL) ) is now available.
Cooper Energy Limited has reached a joint venture alignment with O.G. Energy for the East Coast Supply Project, allowing a 3-well drilling program to proceed on a 50/50 basis. Despite a 7% decrease in quarterly production due to planned maintenance shutdowns, the company achieved a record average realized gas price and reduced net debt. The East Coast Supply Project is expected to significantly enhance the company’s scale, margins, and earnings, with strong customer interest in securing gas supply. The company’s operational improvements and strategic partnerships position it well for future growth.
More about Cooper Energy Limited
Cooper Energy Limited is a key player in Australia’s energy sector, focusing on the exploration and production of oil and gas. The company is involved in various projects, including the East Coast Supply Project, and operates in several basins such as Gippsland, Otway, and Cooper.
YTD Price Performance: 18.26%
Average Trading Volume: 383
Technical Sentiment Signal: Hold
Current Market Cap: $275.3M
Find detailed analytics on AEL stock on TipRanks’ Stock Analysis page.