Rex International Holding Ltd. (SG:5WH) has released an update.
Rex International Holding Ltd. has disclosed its financial expenditures for the first quarter of 2024, spending $49.30 million on exploration and production activities in Oman and Norway, as well as general working capital needs. The spending in Oman exceeded projections due to an early start in drilling, while costs in Norway were below expectations because of the re-utilization of existing well slots. Overall, the company’s actual expenditure slightly surpassed its previous quarter’s projection by $0.18 million.
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