InPlay Oil (TSE:IPO) has released an update.
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InPlay Oil Corp. reported a strong financial performance in 2023, with an annual production increase to 9,025 boe/d and a quarterly record for light oil production. Despite significant reductions in oil and natural gas prices, the company achieved an adjusted funds flow of $91.8 million and maintained a robust operating income profit margin of 58%. Additionally, InPlay demonstrated fiscal responsibility by maintaining a low net debt to EBITDA ratio of 0.5x and investing in strategic drilling and capital projects for sustained growth.
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