Interoil Reports Robust Growth in Q1 2024

InterOil Exploration and Production ASA (DE:1ZD0) has released an update.

Interoil Exploration and Production ASA reported a significant increase in net production and revenues in Q1 2024, with production rising to 104,836 boe from 54,661 boe in Q1 2023 and revenues soaring to USD 7.8 million from USD 1.2 million. The company’s EBITDA also turned positive at USD 3.3 million, compared to a USD -0.5 million in the prior year period. Additionally, Interoil has delayed its exploratory drilling obligations in Colombia and entered into a lucrative commercial agreement in Argentina, enhancing delivery logistics and potentially increasing crude oil prices received by up to USD 10/bbl.

For further insights into DE:1ZD0 stock, check out TipRanks’ Stock Analysis page.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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