Tenth Avenue Petroleum (TSE:TPC) 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.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Tenth Avenue Petroleum Corp. reported a steady first quarter in 2024 with marginal changes in production and revenue, citing a slight decrease in revenues before and after realized derivatives compared to the previous quarter. Significant improvements were seen in operating netbacks and a 12% reduction in net production expenses, alongside a 36% increase in proved plus probable reserves from waterflood program advances. The company also highlighted a potential for increased oil recovery rates due to regulatory approval for a new injection well.
For further insights into TSE:TPC stock, check out TipRanks’ Stock Analysis page.