Petro Tal Corp (TSE:TAL) has released an update.
PetroTal Corp reported a productive 2023 with a 17% increase in year-on-year production, averaging 14,248 barrels of oil per day (bopd), and generated a notable $91 million in free funds flow. The company also rewarded shareholders, returning over $61 million through dividends and share buybacks, while maintaining a robust 30% return on capital employed. Despite challenges from a severe dry season, PetroTal closed the year in a strong financial position with $111 million in total cash.
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