Perpetual Energy (TSE:PMT) has released an update.
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Perpetual Energy Inc. reported a decrease in first quarter 2024 sales production and a significant net loss due to a legal settlement provision. Production dropped by 31% compared to the same period last year, and adjusted funds flow fell sharply amidst lower commodity prices and production volumes. The company also spent conservatively on exploration and development, focusing instead on land purchases and asset retirement obligations.
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