Australis Oil & Gas Limited (ASX:ATS) Announces Q4 2024 Results
Financial Performance
Australis Oil & Gas reported a sales volume of 62,000 barrels in Q4 2024, marking a 3% increase compared to Q3 2024. Despite higher sales volumes, sales revenue slightly decreased by 2% to $4.5 million due to lower commodity pricing. Lower operating costs resulted in a field netback of $1.8 million, an 8% increase from the previous quarter. The company reduced its credit facility principal debt by $1.4 million, bringing it down to $8.4 million. Additionally, the cash balance at quarter end was $6.2 million, a 13% decrease, and the net debt position decreased by 19% to $2.2 million.
Operational Highlights
Australis continued active engagements with potential partners conducting due diligence on its assets. The company’s acreage within the Tuscaloosa Marine Shale (TMS) core remains a strategic asset with 65 million barrels of 2P+2C net reserves and resources. Australis is the largest acreage holder and producer in the TMS, leveraging historical development data and knowledge to drive growth.
Reserves Update
An independent assessment by Ryder Scott Company confirmed Australis holds 65 MMbbls of 2P+2C recoverable reserves, including 1.62 MMbbls of producing reserves with a net present value (NPV) of $38 million.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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