PrairieSky Royalty ( (TSE:PSK) ) has issued an update.
PrairieSky Royalty Ltd. announced record annual oil royalty production for 2024, with a significant increase in both oil volume and annual dividend policy. Despite a decline in natural gas and NGL production, the company achieved a 6% rise in oil royalty production, contributing to total revenues of $509.2 million. The improved performance is attributed to strategic investments in low-cost oil plays, particularly in the Clearwater and Mannville Stack regions. The company also reduced net debt by 39% and increased its annual dividend by 4%, reflecting strong financial health and commitment to shareholder returns.
More about PrairieSky Royalty
PrairieSky Royalty Ltd. is a company operating in the oil and gas industry, focusing on managing a portfolio of oil and gas royalty assets. Its primary products include oil, natural gas, and natural gas liquids, with a market focus on light and heavy oil plays primarily in Alberta and Saskatchewan.
YTD Price Performance: -2.32%
Average Trading Volume: 18,731
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.53B
For detailed information about PSK stock, go to TipRanks’ Stock Analysis page.