Cue Energy Reports Strong Quarter with Increased Production and Shareholder Returns

Cue Energy Resources Limited ( (AU:CUE) ) has provided an update.

Cue Energy Resources Limited reported a strong quarter with significant financial and operational achievements. The company returned $7 million to shareholders through dividends, contributing to a total of $28 million over 18 months. Cue achieved a production rate of 1,700 boe/d and increased cash receipts by 17% to $15.3 million. The successful drilling of Mereenie field wells boosted gas production, while ongoing development activities at Mahato PSC and progress towards a Final Investment Decision on the Paus Biru project highlight Cue’s commitment to growth. The company maintains a robust balance sheet with $11.1 million in cash and no debt, positioning itself well for future development and shareholder value.

More about Cue Energy Resources Limited

Cue Energy Resources Limited operates in the energy sector, focusing on the exploration and production of oil and gas. The company is involved in various projects across Australia, Indonesia, and New Zealand, with a market focus on increasing production and maintaining a strong financial position.

YTD Price Performance: 8.89%

Average Trading Volume: 424,574

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$68.51M

Find detailed analytics on CUE stock on TipRanks’ Stock Analysis page.