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Otto Energy Limited ( (AU:OEL) ) has provided an announcement.
Otto Energy Limited reported consistent operational performance in the first quarter of 2025, with a revenue of US$5.2 million despite a 9% decrease in production. The company saw a 16% increase in net revenue from the Lightning Field due to higher natural gas prices and managed to reduce its operating costs by 16%. Otto’s cash balance increased to US$35.6 million, aided by positive cashflows and an insurance claim. The company is also seeking a tax-free return of capital ruling from the ATO for a planned shareholder return of up to A$40 million.
More about Otto Energy Limited
Otto Energy Limited is an energy company engaged in the exploration and production of oil and gas. The company operates primarily in the United States, focusing on five producing assets, including South Marsh, Lightning, Green Canyon, Mosquito Bay West, and Oyster Bayou South.
Technical Sentiment Signal: Strong Buy
Current Market Cap: $32.36M
Find detailed analytics on OEL stock on TipRanks’ Stock Analysis page.