Petrus Resources – Review Of Production Growth in 2023 And Key Work Strategies In 2024
We are joined by Ken Gray, President and CEO, and Matt Skanderup COO of Petrus Resources (TSX: PRQ) (OTC: PTRUF), for a review of 2023 operations and financials, and a look forward into production and financial growth for 2024 at their operations in Alberta, Canada.
We start off by getting a recap of the 2023 capital program, the growth in production to 9,500-10,000 boe/d and some general production guidance 2024. The company has drilled oil and gas wells, at both the flagship Ferrier liquids-rich Cardium gas play and Ferrier North in Alberta. The company a large percentage increase in production in 2023 over 2022 and 2021, and projects it will keep this level of producing 10,000+ BOE per day on average next year. The increase in related free cash flows has allowed for the company to initiate a regular dividend for 2024, the potential of more share buybacks, and addition work chewing through more debt in the year to come.
Ken outlines that there can be more growth the Company an turn on at higher nat gas and Matt outlines some key news and company milestones for investors to keep tabs on as we turn the calendar over to 2024. We also discuss the potential to growth through an acquisition in the year to come, and how a larger transaction also may create the liquidity to allow more institutional involvement in the stock.
If you have any questions for Ken or Matt with regards to Petrus Resources, then please email us at either Fleck@kerport.com or Shad@kereport.com.
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Yes, the economics of the deal are what count.
Hi Marc. Thanks for those updates on Impact and Avino. Yes, we’ve had both companies on the show in the recent past, and I like and have positions in both companies in my personal portfolio. Ever Upward!
Thanks Marc, those are some good questions for David, and I’ll reach out to see about getting him back on the show soon for an Avino update.
Noticed this sentence
No material capex is required…..