Byron Energy posts US$7.4 million quarterly revenue
Net sales revenue falls 8% on lower oil prices while oil production rises 4% to 90,654 barrels; the company becomes debt free.
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In short: Byron Energy became debt-free as quarterly sales revenue fell despite higher oil production.
Net sales revenue falls 8% on lower oil prices while oil production rises 4% to 90,654 barrels; the company becomes debt free.
Net revenue falls 5% to US$27.6 million and EBITDAX falls 5% to US$14.1 million.
Net sales revenue was US$8.0 million versus US$6.4 million, while oil production fell 8% to 86,991 barrels and cash rose to US$4.2 million.
Oil production fell 13% to 94,292 barrels on compressor issues and water ingress, while cash fell to US$1.5 million after early vendor repayment.
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