Newport Exploration (TSE:NWX) has released an update.
Newport Exploration Ltd updates on its 2.5% gross overriding royalty from Beach Energy’s Cooper Basin activities, noting a slight decline in production and oil prices. The company’s royalty interests remain unaffected by operating decisions at Beach, which reported a 5% drop in Western Flank production. No new drilling occurred this quarter, as Beach focuses on reviewing data for potential future exploration.
For further insights into TSE:NWX stock, check out TipRanks’ Stock Analysis page.