Kiwetinohk Energy Corp. (TSE:KEC) has released an update.
Kiwetinohk Energy Corp. announced strong financial and operational outcomes for the fourth quarter of 2023, with a notable 27% increase in annual production to a record 22,587 boe/day and a 21% return on average capital employed. The company’s year-over-year net present value for total proved plus probable reserves grew by 9% to $2.8 billion, highlighting a significant gap between the share price value and the intrinsic value of reserves. Amidst commodity price volatility, Kiwetinohk reaffirmed its 2024 guidance, emphasizing financial discipline and continued development of its energy projects.
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