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Cue Energy Resources Limited ( (AU:CUE) ) has issued an announcement.
Cue Energy Resources Limited reported a strong quarter with a $3.5 million dividend payment, bringing total shareholder returns to $31.5 million over two years. The company maintained steady production levels and increased cash receipts by 21% to $13.5 million. Key developments included the commencement of two new oil wells at Mahato, boosting output by 2,000 barrels per day, and achieving the highest monthly average production at the Maari field in five years. Additionally, Cue secured a gas supply agreement with McArthur River Mining and made progress on the Paus Biru development and Sampang PSC extension, potentially increasing its interest from 15% to 25%. These strategic moves underscore Cue’s focus on value-accretive growth and strengthening its market position.
More about Cue Energy Resources Limited
Cue Energy Resources Limited is an energy company involved in the exploration and production of oil and gas. The company focuses on operations in Australia, Indonesia, and New Zealand, with a strategic emphasis on enhancing shareholder value through disciplined capital management and growth in its diversified portfolio.
Average Trading Volume: 293,947
Technical Sentiment Signal: Buy
Current Market Cap: A$80.47M
Find detailed analytics on CUE stock on TipRanks’ Stock Analysis page.