Central Petroleum Boosts Production Capacity and Revenue in December Quarter

The latest announcement is out from Central Petroleum Limited ( (AU:CTP) ).

Central Petroleum Limited reported a successful quarter with significant developments in its Mereenie gas field. The company achieved a notable increase in production capacity due to a new well, leading to a 3% rise in sales volumes and a 4.6% increase in sales revenue for the December quarter. The company’s strategic focus on Northern Territory customers after the closure of the Northern Gas Pipeline has resulted in a 10% rise in half-year sales volumes compared to the previous six months. The company also extended its loan facility, providing financial flexibility for future investments in new wells.

More about Central Petroleum Limited

Central Petroleum Limited is an energy company operating in the Northern Territory, focusing on gas development and production. The company’s primary products include natural gas and crude oil, catering primarily to the Northern Territory market.

YTD Price Performance: 26.00%

Average Trading Volume: 560,573

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$46.95M

For an in-depth examination of CTP stock, go to TipRanks’ Stock Analysis page.