Lycos Energy Inc. Reports Strong 2024 Financial and Operational Growth

Samoth Oilfield ( (TSE:LCX) ) has issued an announcement.

Lycos Energy Inc. reported significant financial and operational growth for the year ending December 31, 2024. The company achieved a 100% success rate in its multi-lateral drilling program, leading to a 46% increase in production per share and an 82% rise in adjusted funds flow per share. Despite a non-cash loss on disposals, Lycos maintained a strong balance sheet with a net debt to adjusted funds flow ratio of 0.3X. The company’s average daily production increased by 11% in Q4 2024, although it faced some production setbacks due to gas egress issues.

More about Samoth Oilfield

Lycos Energy Inc. operates in the energy sector, focusing on petroleum and natural gas production. The company is known for its strategic drilling activities, particularly in the Mannville Stack, and has demonstrated a strong track record in increasing production and funds flow per share.

YTD Price Performance: -38.52%

Average Trading Volume: 77,288

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$93.17M

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