Tenth Avenue Petroleum ( (TSE:TPC) ) has provided an announcement.
Tenth Avenue Petroleum Corp. reported its 2024 year-end financial results, highlighting a significant increase in reserves and a strategic acquisition. The company closed the Patricia Acquisition, enhancing its production capacity, and increased its proved developed and producing reserves by 43%, total proved reserves by 162%, and total proved plus probable reserves by 109%. Despite these operational improvements, the company faced a net loss and a decrease in revenue compared to the previous year, impacting its financial performance.
More about Tenth Avenue Petroleum
Tenth Avenue Petroleum Corp. operates in the oil and gas industry, focusing on the exploration and production of petroleum products. The company is primarily engaged in acquiring and developing oil and gas assets in Alberta, Canada.
YTD Price Performance: 16.67%
Average Trading Volume: 51,942
Technical Sentiment Signal: Buy
Current Market Cap: C$3.12M
See more insights into TPC stock on TipRanks’ Stock Analysis page.