Rubellite Energy Inc (TSE:RBY) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Rubellite Energy Inc. has reported a significant first quarter with heavy oil sales production rising 51% compared to the same period last year, reaching 4,514 barrels per day and surpassing their own Q1 guidance. Adjusted funds flow surged to $18.5 million, a notable increase from last year’s $9.7 million, despite a net loss of $4.2 million due to unrealized losses on risk management contracts. The company also reduced its net debt to $45.5 million, thanks to strong free funds flow.
For further insights into TSE:RBY stock, check out TipRanks’ Stock Analysis page.
Trending Articles:
- “The No. 1 Destination for the Most Talented Artists”: Netflix Stock (NASDAQ:NFLX) Notches Up as the Duffer Brothers Consider Jumping Ship
- “Breakthrough EVs”: Ford Stock (NYSE:F) Notches Up on New Battery Details
- “An Equity Stake”: Intel Stock (NASDAQ:INTC) Surges as U.S. Government May Buy In With CHIPS Act Money