Reports Q4 revenue $300.3M, consensus $182.37M. The Company’s average daily production in the fourth quarter 2023 increased 2% to 25,900 boe/d, compared to third quarter volumes. Company-wide oil production in the fourth quarter 2023 increased 3% sequentially and California production, which consists solely of oil and comprises 83% of total company production, increased 5% to 21,500 mboe/d in the fourth quarter. These increases were largely driven by the impact from the acquisition of Macpherson Energy Corporation at the end of the third quarter.
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