Significant Production Increase
Production increased by over 40% year-over-year to over 4,250 barrels of oil equivalent per day.
Revenue Growth
Quarterly revenue increased by 15% to $15 million despite a decrease in oil prices.
Adjusted EBITDA Growth
Adjusted EBITDA increased by 9% to $11.1 million from the previous year.
Stock Buyback Program
The company repurchased about 568,000 shares since starting the buyback program.
Record-High Production Expected
Company expects to exit the year with record-high production due to new wells coming online.