Tenth Avenue Reports Promising Q1 Performance

Tenth Avenue Petroleum (TSE:TPC) has released an update.

Tenth Avenue Petroleum Corp. reported a steady first quarter in 2024 with marginal changes in production and revenue, citing a slight decrease in revenues before and after realized derivatives compared to the previous quarter. Significant improvements were seen in operating netbacks and a 12% reduction in net production expenses, alongside a 36% increase in proved plus probable reserves from waterflood program advances. The company also highlighted a potential for increased oil recovery rates due to regulatory approval for a new injection well.

For further insights into TSE:TPC stock, check out TipRanks’ Stock Analysis page.