InPlay Oil (TSE:IPO) has released an update.
InPlay Oil Corp. showcased a solid performance in the first quarter of 2024 with an average production of 8,605 barrels of oil equivalent per day, a strong adjusted funds flow (AFF) of $16.5 million, and significant shareholder returns through dividends totaling $4.1 million. The company is optimistic about its upcoming capital program, focusing on high oil-weighted properties with expected benefits from higher forecasted oil prices and improved West Texas Intermediate (WTI) rates. InPlay’s second half of the year looks promising with major drilling activities planned and a new gas handling agreement expected to bolster development and enhance production and returns.
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