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Pieridae Energy ( (TSE:PEA) ) has provided an announcement.
Pieridae Energy Limited reported its financial and operational results for the fourth quarter and full year 2024, highlighting significant strategic milestones. The company achieved a net operating income of $64.6 million and managed to reduce operating expenses by 17% compared to 2023. Pieridae also completed the divestiture of its legacy LNG assets and repaid a high-cost bridge loan, raising over $33 million in equity to invest in production and optimization projects. Despite a net loss of $38.9 million, the company has positioned itself for future growth by focusing on cost reduction, debt repayment, and capitalizing on new opportunities. Key priorities for 2025 include repositioning its sulphur business and consolidating shut-in raw gas into its Caroline Gas Plant.
More about Pieridae Energy
Pieridae Energy Limited is a company operating in the energy sector, primarily focused on the production and management of natural gas and related products. The company is involved in oil and natural gas reserves evaluation and has a strategic focus on optimizing production and reducing operational costs.
YTD Price Performance: -3.57%
Average Trading Volume: 49,269
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$78.4M
See more data about PEA stock on TipRanks’ Stock Analysis page.