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Nostra Terra Oil and Gas ( (GB:NTOG) ) has shared an update.
Nostra Terra Oil and Gas Company PLC announced its 2024 audited annual results, highlighting a strategic shift towards core assets in East Texas, particularly the Pine Mills Field, where a successful workover program increased production by 40%. Despite a challenging oil price environment, the company achieved profitability at the operating and corporate levels for the first time in years, driven by cost reductions and strategic divestments. The company plans to explore acquisition opportunities as other companies may divest under pressure, and it continues to focus on improving production and cash flow from its existing assets.
More about Nostra Terra Oil and Gas
Nostra Terra Oil and Gas Company PLC is an oil and gas exploration and production company with a portfolio of development and production assets primarily located in Texas, USA. The company focuses on conventional reservoirs, offering lower lifting costs and longer-life reserves compared to unconventional ones. Its core asset is the Pine Mills Field in East Texas, which provides a significant portion of the company’s production and sales.
Average Trading Volume: 51,703,006
Technical Sentiment Signal: Strong Sell
Current Market Cap: £1.18M
Find detailed analytics on NTOG stock on TipRanks’ Stock Analysis page.