Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
The latest announcement is out from Newport Exploration ( (TSE:NWX) ).
Newport Exploration Ltd has announced an update regarding its interests in the Cooper Basin, Australia, where it holds a 2.5% gross overriding royalty on certain licenses managed by Beach Energy. The latest report from Beach Energy indicates a significant drop in production from the Western Flank due to natural field decline, although efforts are underway to mitigate this with upcoming drilling campaigns. Newport’s financial position remains stable, with no debt and a solid cash position, although it remains dependent on Beach Energy’s operational decisions and disclosures.
More about Newport Exploration
Newport Exploration Ltd is involved in the oil and gas industry, primarily focusing on obtaining gross overriding royalties (GOR) from permits in the Cooper Basin, Australia. The company benefits from GOR without incurring operational costs and has no control over the decisions made by operators like Beach Energy, which manages the associated licenses.
YTD Price Performance: 6.25%
Average Trading Volume: 61,248
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$8.97M
See more data about NWX stock on TipRanks’ Stock Analysis page.
