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Kistos PLC ( (GB:KIST) ) has provided an update.
Kistos Holdings PLC reported a steady production performance for 2024, with an average output of 8,050 boepd and net reserves of 24.6 mmboe. The company has outlined its 2025 production guidance at 8,000 to 9,000 boepd. Financially, Kistos ended 2024 with $144 million in cash, aided by significant tax rebates from its Norwegian assets, and maintains a proforma net debt of $45 million. The company is advancing its operational projects, notably the Balder Future development and Balder Phase V drilling campaign, while also expanding its UK gas storage capacity. These strategic developments underscore Kistos’ robust position to support existing and future growth opportunities, with a focus on converting resources to reserves and enhancing field economics.
More about Kistos PLC
Kistos Holdings PLC is an independent energy company focused on the upstream and midstream markets. The company is engaged in oil and gas production, with significant operations in the Balder Area and the Greater Laggan Area, as well as gas storage facilities in the UK.
YTD Price Performance: 8.10%
Average Trading Volume: 262,041
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £95.29M
For a thorough assessment of KIST stock, go to TipRanks’ Stock Analysis page.