Tex-Mex Acquisition and New Wells Contribution
Closed the Tex-Mex acquisition contributing 440 barrels of stable, low decline production. Additionally, four new wells in the Chaveroo development block added more than 850 net barrels of oil equivalent per day.
Strong Natural Gas Revenue
Natural gas revenue rose 33% year-over-year to $7.8 million, partially offsetting oil revenue decline.
Dividend Stability
Declared a cash dividend of $0.12 per share, marking the 47th consecutive quarter of issuing a dividend.
Operational Efficiency at Chaveroo
Successfully completed and brought online four new wells under budget, with initial rates exceeding expectations.
Credit Facility Expansion
Extended the maturity of the revolving credit facility to April 2028 and increased total commitments to $65 million.