Logan Energy Corp (TSE:LGN) has released an update.
Logan Energy Corp. has reported a robust second half in 2023 with a 39% production increase to 7,515 barrels of oil equivalent per day and a successful $102.2 million fundraising through private placements and warrant exercises. The company has also been actively expanding its operations with $74.1 million spent on exploration and development, resulting in the addition of 62.25 net sections of land and the start of production from multiple new wells. Furthermore, Logan Energy has seen its operating netback improve significantly, indicating better profitability per barrel.
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