NG Energy Reports Record Revenue and Strategic Advances in 2024

NG Energy International ( (TSE:GASX) ) has provided an announcement.

NG Energy International Corp. has announced the filing of its annual audited consolidated financial statements for the fiscal year ending December 31, 2024. The company reported a record annual revenue of US$38.2 million, a 218% increase from the previous year, and significant growth in its reserves and production capacity. The sale of a 40% working interest in the Sinu-9 Block for US$150 million has strengthened its operational capabilities and improved its balance sheet. Despite some production challenges at Maria Conchita, the company is on track to increase its production capacity significantly by Q3 2025.

Spark’s Take on TSE:GASX Stock

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

NG Energy International’s stock shows strong technical momentum and benefits from a strategic corporate event, but is hindered by financial performance challenges and poor valuation metrics. The company’s growth potential is promising, but high leverage and lack of profitability are significant risks that need to be addressed for a more positive outlook.

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

More about NG Energy International

NG Energy International Corp. operates in the energy sector, focusing on the exploration and production of natural gas. The company is engaged in the development of significant natural gas fields, with a market focus on increasing its reserves and production capacity.

YTD Price Performance: -20.35%

Average Trading Volume: 163,268

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$232M

See more data about GASX stock on TipRanks’ Stock Analysis page.