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An announcement from Afentra ( (GB:AET) ) is now available.
Afentra plc reported solid operational and financial performance for 2024, with net average production reaching 6,229 bopd and sales of 2.27 million barrels generating $186.7 million in revenue. The company achieved a net cash flow of $87.2 million post-expenses and ended the year with a net cash position of $12.8 million. Key operational improvements included a successful maintenance shutdown and increased water injection capacity, enhancing production reliability and long-term growth prospects. Afentra continues to advance its exploration portfolio in Angola’s Kwanza Onshore Basin, with ongoing surveys and license awards. Financially, Afentra strengthened its balance sheet and hedged a significant portion of 2025 production to mitigate oil price volatility, setting the stage for further growth and strategic acquisitions.
More about Afentra
Afentra plc is an upstream oil and gas company focused on acquiring production and development assets in Africa. It aims to support a responsible energy transition by collaborating with divesting IOCs and Host Governments. The company holds significant non-operated interests in offshore and onshore blocks in Angola and a carried interest in Somaliland.
YTD Price Performance: 11.93%
Average Trading Volume: 588,857
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £116.7M
Learn more about AET stock on TipRanks’ Stock Analysis page.
