Newport Exploration Reports Q3 Production Decline Amid Weather Challenges

Newport Exploration ( (TSE:NWX) ) has provided an update.

Newport Exploration Ltd reported a 12% decline in oil production from the Western Flank in Q3 FY25, attributed to natural field decline and adverse weather conditions, including heavy rain and flooding. Despite these challenges, the average realized prices for oil and gas increased by 8% and 4%, respectively. Beach Energy, which operates the fields, is managing the impact of flooding and plans to commence a 10-well oil appraisal and development campaign in H1 FY26, contingent on weather conditions. Newport, which receives royalties from Beach’s operations, will update shareholders on production forecasts as they become available.

Spark’s Take on TSE:NWX Stock

According to Spark, TipRanks’ AI Analyst, TSE:NWX is a Neutral.

Newport Exploration’s stock score is primarily affected by its stable balance sheet and attractive valuation, but it is weighed down by the critical absence of revenue. Positive technical indicators provide support for the stock’s upward momentum, while the high dividend yield offers significant investor returns despite the company’s revenue challenges.

To see Spark’s full report on TSE:NWX stock, click here.

More about Newport Exploration

Newport Exploration Ltd is involved in the oil and gas industry, holding a 2.5% gross overriding royalty over permits in the Cooper Basin, Australia, operated by Beach Energy Ltd. The company benefits from these assets without bearing operational costs or having control over Beach’s operating decisions.

YTD Price Performance: 50.0%

Average Trading Volume: 138,306

Technical Sentiment Signal: Buy

Current Market Cap: C$12.67M

For detailed information about NWX stock, go to TipRanks’ Stock Analysis page.