Lucero Energy Corp’s Q1 2024 Financial Downturn

PetroShale Inc (TSE:LOU) has released an update.

Lucero Energy Corp. has reported a decrease in financial performance for the first quarter of 2024 compared to both the previous quarter and the same period in the previous year, with funds flow, adjusted EBITDA, and net income all showing declines. Despite the financial downturn, the company sustained a steady production rate of oil, gas, and NGL, although average realized prices for these commodities were also lower. Lucero’s exploration and development expenditures saw a significant increase from the end of the previous year.

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